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U.S. Dollar Advances as Oil Rally and Strait of Hormuz Tensions Drive Forex Moves
FORECASTSJUL 7, 2026
U.S. Dollar Advances as Oil Rally and Strait of Hormuz Tensions Drive Forex Moves
The American currency strengthened as traders reacted to vessel damage in the Strait of Hormuz and a rally across oil markets. Major currency pairs moved around key technical levels, with EUR/USD and GBP/USD under pressure while USD/CAD and USD/JPY remained near important support and resistance zones.