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Forex

Dollar Holds Firm Near One-Month High Ahead of Fed Decision

Guavy AI Editorial Team
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USD
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The US dollar remained near a one-month high on Wednesday due to safe-haven flows following renewed hostilities in the Middle East. The move came as investors awaited the Federal Reserve's interest rate decision later in the day.

Markets were pricing in a 33% chance of a 25-basis-point hike, with traders staying on the sidelines ahead of the Federal Open Market Committee's decision. The dollar had been buoyed by safe-haven flows after hostilities flared anew in the Middle East.

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