Forex
Dollar Finds Support Amid Energy Price Hikes
The US dollar has bounced back from its range lows at 99.40 yesterday, showing that it is not ready to make a sustained break lower just yet.
Tighter Fed policy remains a possibility due to higher energy prices and rising long-end yields, which could put a September hike from the Federal Reserve back on the agenda.
The dollar index has been supported by US energy independence and the Fed's reaction function, with oil and gas prices creeping higher again after news that Washington seems to have little interest in extending the 60-day ceasefire with Iran.