The dollar rose on Monday as oil prices climbed, prompting investors to seek liquidity due to fears that a prolonged war in the Middle East could severely disrupt energy supplies and harm global growth. The dollar gave up some of its gains in afternoon trading in Asian markets after a report in the Financial Times said finance ministers from the Group of Seven (G7) industrialized nations will discuss on Monday a coordinated joint release of oil from emergency reserves, led by the International Energy Agency. This caused a slight dip in oil prices, which had earlier risen to nearly $120 a barrel. The euro fell 0.6%.
