US dollar hovers near 2026 highs as oil’s rise spurs hawkish central bank bets

Synopsis Global markets are on edge as oil prices surge, nearing $100 a barrel. This spike fuels inflation fears, prompting central banks to consider aggressive interest rate hikes. The U.S. dollar is strengthening as investors seek safety. Tensions in the Strait of Hormuz add to market volatility. Economists warn of slower global growth. Cryptocurrencies are also experiencing a downturn. The safe-haven U.S. dollar hovered close to its strongest levels this year on Thursday as climbing oil prices threatened to spur inflation and force central banks globally to adopt more hawkish policy stances. The euro fell 0.1% against the greenback to…