Dollar Drops from 15-Month High Amid Softer Energy Prices

The US dollar has eased from its 15-month high of 101.6 to 101.3 on Tuesday, according to TradingView.

This softening comes after a rate hike by the Federal Reserve was deemed less likely due to softer energy prices.

Fuel prices have eased off their local peaks, driven by a potential diplomatic resolution with Iran in their war, which has trimmed the risk of a rebound in energy inflation.

However, fuel prices remain elevated at historical levels as exports from the Middle East are still low.