India, Aug. 10 -- The U.S. Dollar value moves higher as the Strait of Hormuz remains closed with the U.S. and Iran unrelenting in their demands from each other leading to heightened uncertainty over its reopening. The consequent surge in crude oil prices renewed inflationary concerns and triggered expectations of a higher interest rate regime in the U.S. in the near-term.
Today, the U.S. Dollar Index DXY which measures the Greenback against a basket of other major currencies was last seen trading at 99.81, up by 0.28 (or 0.28%).
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