Ammon News - The U.S. dollar held broadly steady on Monday, poised for its strongest monthly gain since July as investors fret about the ​ramifications of a long war in the Middle East, denting the yen past the crucial 160 level and spurring intervention jitters.

Markets have been rattled this ‌month after the conflict effectively shut the Strait of Hormuz, a chokepoint for about a fifth of global oil and gas flows, driving Brent crude toward its biggest monthly rise and unsettling rate expectations.

The U.S. dollar was a touch weaker in Asian hours but ​mostly held onto its recent gains. The euro was 0.1% higher $1.15145, yet was staring at a 2.5% drop in March, its weakest monthly performance since July.

Sterling was at $1.3271, little ​changed on the day but set for a drop of 1.7% this month. The dollar index , which measures the U.S. currency against six other units, was 0.2% lower at 100.1.

The Japanese yen firmed to 159.70 per dollar after hitting 160.47 earlier in the session, its ​weakest level since July 2024 when Tokyo last intervened in the currency markets.

The Aussie hit a two-month low of $0.6843 and was headed for a monthly drop ​of about 3.5%, its steepest decline since December 2024. The New Zealand dollar weakened 0.3% to $0.57355, down 4.3% in March.

Reuters