US dollar steadies near weekly high as Middle East tensions influence markets

The US dollar index held near its weekly peak on Tuesday, trading flat against the yen at 162.49 and showing little change versus the euro and the pound. Markets remained sensitive to developments in the Middle East, where renewed fighting has revived concerns over oil supplies and inflation pressures.

Gold prices slipped modestly, with spot gold down 0.2% to $4,007.91 per ounce and the August futures contract falling 0.1% to $4,015.90. The drop followed a rise in US Treasury yields – the 10‑year note yielded 4.59% – and heightened expectations that the Federal Reserve may keep rates higher for longer.

Cryptocurrency values also retreated. Bitcoin traded between $60,000 and $65,000, closing around $64,083, while Ethereum fell to $1,856 and Ripple to $1.087. Despite the short‑term dip, Bitcoin ETFs in the United States continued to attract net inflows for a second week.

In Egypt, major banks reported only marginal movements in the dollar‑to‑Egyptian‑pound rate. The Central Bank listed a buying price of 51.01 EGP and a selling price of 51.15 EGP, with commercial banks posting similar figures. The modest changes reflect a broader market calm despite the geopolitical backdrop.