The dollar index is soaring at a three month high on Monday morning in Asia amid boiling energy prices and escalating tensions in Middle East. DXY strengthened well past 99.50 mark in early trades and is currently trading at 99.31, a tad lower from the day's high. Mounting concerns that a prolonged Middle East conflict could lead to longer-term disruption of global energy supplies has benefited the greenback. Oil was up more than $115 per barrel, a three and half year high, adding to inflationary concerns and complicating the Federal Reserve's policy outlook, reinforcing expectations that rate cuts may be delayed. It has pulled back from early Asian levels but still hovers above $100 per barrel mark. The counter has registered a 27% jump on Monday morning following a 36% spike on Friday.
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