"The dollar is pushing to new highs for the month as the market struggles to see a way out of the Middle East crisis," analysts at ING said in a note.
Now well over a week old, the joint U.S.-Israeli assault on Iran has shown few signs of waning, with President Donald Trump saying Washington is "totally destroying" Iran’s military and economy.
But Tehran has indicated that it will continue to fight. New Iranian Supreme Leader Mojtaba Khamenei has particularly said that the critical Strait of Hormuz waterway, through which a fifth of the world’s oil flows, will remain closed.
The prospect of a prolonged shuttering of the strait has sparked wild volatility in Brent crude prices this week. At one point, the global benchmark had soared to as high as almost $120 a barrels, before later retreating briefly below $90 a barrel. On Friday, Brent crude futures were hovering above $100 a barrel.
source https://www.investing.com/news/forex-news/asia-fx-weakens-indian-rupee-at-record-low-as-iran-war-keeps-oil-jitters-in-play-4558880
