March 16, 2026 – The US dollar rose to its highest level in more than three months last Friday, heading for its second weekly gain since the outbreak of the war in Iran, as market volatility strengthened its position as a safe-haven currency for investors.
The euro fell to its lowest level since November, while Japan warned it may take action to support the yen after the currency dropped to its weakest level in nearly 20 months.
Oil prices also increased amid rising tensions in the Middle East, as Iran escalated attacks on oil and transport facilities, while its new Supreme Leader, Mojtaba Khamenei, pledged to keep the Strait of Hormuz closed to navigation, raising concerns over global energy supplies, according to Reuters.
