U.S. Dollar Advances As Concerns Over Escalation In The Gulf Conflict Increase

India, Aug. 18 -- The U.S. Dollar value edged higher as increasing crude oil prices due to persisting closure of the Strait of Hormuz boosted expectations of higher interest rates in the U.S. while the hard stance by the U.S. and Iran against each other renewed concerns of deeper escalation in the Middle East.

Today, the U.S. Dollar Index DXY which measures the Greenback against a basket of other major currencies was last seen trading at 99.67, up by 0.13 (or 0.13%).

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