Dollar Holds Near Two-Week High as Middle East Conflict Drives Oil Surge
📉 MARKETS — Dollar strengthening while oil rises means Europe pays twice. 📌 LOOK CLOSER: A stronger dollar reprices oil imports upward for euro and yen holders — compounding the barrel cost already elevated by Hormuz constraint. European refiners buying dollar-denominated crude face a dual squeeze. With German grid under attack and Italian LNG exposure rising, the FX move isn't peripheral: it's the economic transmission belt turning Middle East strikes into household energy bills.
