(March 9): The dollar strengthened against every major currency Monday (March 9) as a deepening war in the Middle East pushed oil prices above US$100 (RM394.62) a barrel and boosted demand for havens. Meanwhile, Iran named a new leader and its armed forces suggested they had the capacity for sustained high-intensity war. “The dollar has been seen as the ultimate safe haven due to its liquidity while also being buoyed by the rise in oil prices,” said Matthew Ryan, head of market strategy at financial services firm Ebury. The dollar has been one of the few traditional havens that have offered investors refuge as conflict in the Gulf region roiled markets. “With the war likely to escalate further before it de-escalates, the dollar clearly has further upside.”

Source: The Edge Markets March 09, 2026 00:36 UTC