Mitsubishi UFJ analyst Derek Halpenny has indicated that the anticipated rise in oil prices due to the Iran conflict may lead some central banks to increase interest rates. According to Odaily, Halpenny noted that such rate hikes would benefit currencies of economies with resilient growth. He stated, "Raising interest rates in weak economic conditions is generally seen as negative for currencies." Amid expectations of further rate hikes and potential trade improvements from rising energy prices, the Australian dollar has emerged as one of the top-performing currencies among the G10 nations. LSEG data reveals that the market currently estimates an 80% probability of the Reserve Bank of Australia raising interest rates by 25 basis points on Tuesday.