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Forex

Dollar Climbs to Two-Week High on Oil Price Surge

Guavy AI Editorial Team
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USD JPY GBP
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The US dollar has reached a two-week high, driven by rising oil prices and increased expectations of a Federal Reserve interest rate hike this week.

The dollar index, which measures the greenback against a basket of currencies, is currently at 99.55.

The euro and sterling have weakened slightly against the dollar, trading at $1.1538 and $1.3494 respectively.

Japan's yen has pulled back from its seven-month high, down about 0.2% at $154.72 ahead of an expected Bank of Japan rate hike on Friday.

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