Dollar Holds Firm Near One-Month High Amid Middle East Tensions
The US dollar held firm near its one-month high on Wednesday due to renewed tensions in the Middle East, which boosted demand for safe-haven assets.
Currency movements were relatively subdued during early Asian trading as investors remained cautious ahead of the Federal Reserve's interest rate decision later in the day.
The dollar index, which tracks the greenback against a basket of major currencies, hovered at 101.43.
Fabien Yip, a market analyst at IG, expects the Fed to keep interest rates unchanged on Wednesday due to uncertainty over inflation risks.