The dollar index climbed during early trading. The index increased by 0.2% to 100.207. Two foreign exchange strategists from OCBC Group's research department stated in a research report, "The U.S. dollar is regaining support from energy prices, a stable U.S. labor market, and safe-haven demand." They noted that the direction of the U.S.-Iran conflict and its impact on energy prices remain a key focus for the market. The strategists highlighted that U.S. President Donald Trump has escalated threats, vowing to destroy Iran's power plants and bridges unless Iran reopens the Strait of Hormuz by his Tuesday deadline.
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