Dollar strengthens as investors watch Middle East situation

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The dollar strengthened against major currencies as investors monitored the situation in the Middle East. At 10:14 p.m. Thai time, the dollar index rose 0.07 percent to 99.971. The dollar gained 0.23 percent to 157.52 yen and weakened 0.10 percent to 99.971 against the euro. U.S. Secretary of State Marco Rubio said talks between the United States, Iran, and Oman on increasing the number of ships allowed through the Strait of Hormuz have made progress, but a final agreement has not yet been reached. Meanwhile, U.S. Treasury Secretary Scott Bessent said the United States and Iran could reach an agreement today or tomorrow to reopen the Strait of Hormuz, guaranteeing freedom of navigation for commercial vessels. Investors are also watching the release of U.S. labor market data this week, including nonfarm payrolls, which analysts expect to rise by 88,000 jobs in July after a gain of 57,000 in June, with the unemployment rate expected to hold steady at 4.2 percent.

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