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Dollar Gains as Oil Prices Rise After U.S. Strikes Iran

The dollar was rising following news of U.S. strikes against Iranian nuclear sites at the weekend.

The dollar's gains are more likely driven by the rise in oil prices resulting from the news as opposed to the currency's safe-haven status, Commerzbank's Thu Lan Nguyen said in a note.

Higher oil prices improve America's terms of trade as the U.S. is one of the world's most important oil suppliers, she says.