The U.S. dollar weakens as producer prices cool and Middle East tensions rise. Crude oil reaching a new all-time high by December 31 at 11.5% YES.

The U.S. dollar surged as tensions rose with the closure of the Strait of Hormuz. Iran charging Hormuz fees by August 31 at 42% YES.

SINGAPORE: The dollar jumped against most of its peers as a renewal of conflict in the Middle East fanned inflation fears and the prospect of rate hikes from central banks…