Strong dollar emerges as safe haven as Middle East war sparks oil fears

War in the Middle East means investors may not only have to contemplate a higher oil price, but also a stronger dollar than many had bargained for at the start of the year.

The greenback has emerged as one of the clearest “safe-haven” winners since the US-Israeli strike ​on Iran on February 28 sparked conflict across the region and virtually closed the Strait of Hormuz, choking off nearly a fifth of global oil supplies.

The dollar has ‌outshone all other currencies, including the Swiss franc and Japanese yen ...