DXY rose to a weekly high on Tuesday after US Treasury Secretary Bessent announced new sanctions on Iran. Bessent warned countries and firms doing business with Iran would face US retaliation but did not specify the measures. IG analysts said market speculation that Washington could exclude affected countries from the dollar-based financial system prompted some nations and banks to buy dollars preemptively, lifting the currency.

2026-08-25

DXY rose to a weekly high on Tuesday after US Treasury Secretary Bessent announced new sanctions on Iran. Bessent warned countries and firms doing business with Iran would face US retaliation but did not specify the measures. IG analysts said market speculation that Washington could exclude affected countries from the dollar-based financial system prompted some nations and banks to buy dollars preemptively, lifting the currency.