Higher energy costs threaten to elevate consumer prices, particularly for economies heavily dependent on oil imports, making policymakers more cautious about easing financial conditions too soon. Currency Performance and Geopolitical UpdatesIn late-morning trading, the dollar surged against the euro, which was last down 1.2% at $1.1554. Against the yen, the dollar rose 0.3% to 157.74 yen after earlier climbing to its highest since January 23, when the New York Federal Reserve reportedly conducted rate ​checks on the dollar/yen pair. Europe and Japan are more exposed to higher energy costs than the U.S., which is a net energy exporter. Other Currency MovementsThe dollar also gained sharply against the Swiss franc, up 0.9% to 0.7864 franc.

Source: Hindustan Times March 03, 2026 01:10 UTC