Investing.com - The safe-haven U.S. dollar gained in early European trade Monday as the escalation of the conflict in the Middle East hit risk sentiment, following on from last week’s strong payrolls report.
By contrast, the Israeli shekel fell to an almost eight-year low against the U.S. dollar at 3.9230, prompting the Bank of Israel to announce it will sell up to $30 billion of foreign currency in the open market, in the central bank's first ever sale of foreign exchange, to maintain stability.data for September, given hot inflation figures could reinforce the Fed’s message that interest rates need to remain higher for longer..
Oil prices have jumped sharply in response, which has a negative impact on the single currency given Germany, the eurozone’s dominant economy, has a high exposure to energy costs.shrank in August for the fourth consecutive month, dropping 0.2% compared to the previous month, slightly more than the 0.1% fall expected.
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