The U.S. dollar firmed against major currencies—Euro, Yen, Aussie—as markets reacted cautiously to U.S. strikes on Iran’s nuclear sites. Oil surged to 5‑month highs, spurring volatility in equities and bonds.
Amid escalating Middle East tensions following US airstrikes on Iran, the United States has formally requested China to use its influence to prevent Iran from shutting down the Strait of Hormuz — a critical maritime route for global oil shipments. The move signals Washington’s efforts to maintain global energy stability and avoid a potential oil crisis.
Major Gulf stock markets, including those in Saudi Arabia, the UAE, and Qatar, showed surprising resilience today as the U.S. officially joined the Israel-Iran conflict. Investors appeared cautiously optimistic, with energy stocks providing support and regional central banks closely monitoring currency and inflation risks.
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