Dollar in Limbo: The Unlikely Alliance of Oil and Interest Rates The US dollar's fortunes are being pulled in opposite directions by two seemingly incompatible forces.
On one hand, the greenback is benefiting from its new status as a major energy exporter, thanks to the war in Ukraine and Iran's disruption of shipping through the Strait of Hormuz.
American oil producers have ramped up production, capitalizing on higher prices and bolstering the country's energy exports.