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Channel NewsAsia
Channel NewsAsia
AsiaPac · 3 hrs ago
Dollar stands tall as Gulf tensions fuel oil price surge, Fed hike bets
HONG KONG, July 9 : The U.S. dollar held firm against most major currencies on Thursday as renewed Gulf tensions revived safe-haven bids while surging oil prices boosted rate hike bets, keeping the Japanese yen under pressure.The dollar fetched 162.41 yen, hovering near the strongest level since July 1. The euro and the British pound were largely flat and traded at $1.1426 and $1.3392, respectively.The New Zealand dollar remained well bid after the previous day's rate hike and the central bank's hawkish stance, extending its gains by 0.5 per cent to $0.5725. The Australian dollar added 0.1 per cent at $0.6936.The U.S. dollar index, which measures the currency against a basket of six peers, was little changed at 100.96. "A flare-up of Middle East tensions has rattled global markets again an
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