Forex
Dollar Hits One-Month High Amid Lingering Hike Chances
The US dollar has reached a one-month high as traders consider a slim chance of a rate hike at the Federal Reserve's upcoming meeting. This comes despite falling oil prices, which have eased some concerns over inflation.
The dollar index, measuring the greenback against a basket of currencies including the yen and the euro, rose 0.03% to 101.55. The euro fell by 0.01% to $1.1366, while sterling eased 0.02% to $1.3284.
A pause in US attacks on Iran has led to a decline in oil prices, which has somewhat alleviated inflation worries. However, US Treasury yields remain a focus for traders as they weigh the possibility of a rate hike at the Federal Reserve's meeting.