As the US and Iran exchanged strikes for a 10th consecutive day, the dollar advanced against most major currencies. "Today's move is largely just a function of the continued rise in energy prices," said Izaac Brook, a rates strategist at RBC Capital Markets. A selloff in the bond market has wiped out the rally that followed the softer-than-expected inflation report released earlier this month. Interest-rate futures showed traders see about a 20% chance that the Fed will raise interest-rate at the policy meeting next week. Most Read from Bloomberg Businessweek©2026 Bloomberg L.P.