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The Economic Times
The Economic Times
Business

Dollar clings to 2-month high as Gulf hostilities flare, yen wobbles near intervention zone

Gulf Bank of Japan Interest Rates Japan Oil United States

The dollar clung to its recent strength near a two-month high on Thursday as fresh Gulf hostilities sent oil prices higher and sapped risk appetite, while the Japanese yen hovered near the key 160 level that kept traders on intervention alert.

Iranian attacks on Kuwait damaged its airport and injured dozens on Wednesday while the U.S. military carried out strikes near the Strait of Hormuz, straining a shaky ‌ceasefire and dimming ⁠hopes ⁠for a diplomatic halt to the war.

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