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Dollar Nears New High of the Year as Investors Rush to Safety

Bloomberg Markets Wednesday 07 October 2026, 15:20 UTC By Anya Andrianova and Melos Ambaye 1 min read
Key Points

Currencies Dollar Nears New High of the Year as Investors Rush to Safety The dollar jumped Wednesday as higher oil prices and heightened tensions in the Middle East prompted investors to flock to safety. The Bloomberg Dollar Spot Index rose as much as 0.5% alongside oil after a pickup in Iranian attacks on vessels in the Strait of Hormuz. The gauge is approaching a new peak this year.

Currencies Dollar Nears New High of the Year as Investors Rush to Safety The dollar jumped Wednesday as higher oil prices and heightened tensions in the Middle East prompted investors to flock to safety. The Bloomberg Dollar Spot Index rose as much as 0.5% alongside oil after a pickup in Iranian attacks on vessels in the Strait of Hormuz. The gauge is approaching a new peak this year. Nearly all currencies in the Group of 10 have weakened against the greenback with the euro lagging behind all its major peers.
the Middle East (LOCATION) Iranian (ORG) the Strait of Hormuz (LOCATION)
Originally published by Bloomberg Markets Read original →

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