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Dollar firms, euro under pressure as energy prices surge

economictimes.indiatimes.com
The dollar surged to a three-month peak as the Middle East conflict fueled fears of escalating energy prices, impacting the euro significantly. Investors sought refuge in the greenback amidst a 'risk-off' sentiment, driving oil and gas prices sharply higher. This global energy shock is seen as a direct tax on European economies, paid in dollars.

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