The dollar is on track for its strongest monthly gain in nearly a year, driven by investors seeking safe-haven assets as the Middle East conflict escalates and prospects for de-escalation diminish in the near term.
Global markets are on edge after a volatile week, particularly following US President Donald Trump's decision to extend the deadline for targeting Iranian energy facilities, amid conflicting accounts from Washington and Tehran regarding diplomatic progress.
The military developments have further heightened uncertainty, with the US Department of Defense considering sending up to 10,000 additional troops to the region, further diminishing the likelihood of a swift end to the conflict.
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