Dollar Hits One-Month High Amid Lingering Fed Hike Fears

The US dollar has reached a one-month high due to lingering concerns about a potential interest rate hike by the Federal Reserve at its upcoming meeting.

Falling oil prices have eased some inflationary pressures, but traders are still cautious about the possibility of higher borrowing costs in the US.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.03% to 101.55.

This increase was driven by the dollar's gains against several major currencies, with the Japanese yen falling 0.05% to 163.82 and the Australian dollar AUD weakening 0.11% versus the greenback to $0.6981.