Dollar wavers as markets grapple with Gulf tensions

Global currency markets stayed volatile amid Middle East tensions, with a Houthi naval blockade on Saudi Arabia pushing oil prices to near six-week highs before retreating. The US Dollar Index held at 100.93, while the 10-year Treasury yield remained elevated at 4.5938 percent. Fed rate hike odds for the next meeting dropped to 17 percent but rose to 63 percent for September as oil-linked inflation risks persist.