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    • US Dollar Holds Firm as Middle East Tensions Boost Safe-Haven Demand

    By on July 9, 2026
    Dollars
    Dollars

    Hong Kong: The US dollar remained firm against most major currencies today as renewed tensions in the Middle East increased demand for safe-haven assets, while higher oil prices reinforced expectations of further interest rate hikes, keeping the Japanese yen under pressure.

    The dollar traded at 162.41 yen, remaining close to its strongest level since the beginning of July.

    The euro was little changed at US$1.1426, while the British pound traded at US$1.3392.

    The New Zealand dollar extended its gains, rising 0.5 percent to US$0.5725 following the previous day’s interest rate increase, while the Australian dollar edged up 0.1 percent to US$0.6936.

    The US dollar index, which measures the currency against a basket of six major currencies, remained broadly unchanged at 100.96.

    The yen continued to struggle against the dollar after touching 162.71, close to its weakest level in nearly four decades, reversing most of the gains recorded during last week’s rally.

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