Dollar Rallies on BoJ Dovish Guidance, Oil Rebound

The US dollar has seen significant movement in recent days, largely due to the actions of major central banks. The Federal Reserve's hawkish stance initially sent the dollar rallying, only for it to sell off before bouncing back again.

The focus then shifted to the Bank of Japan (BoJ), which raised rates by 25 basis points as expected. However, it was the BoJ's dovish guidance that caught market attention and sent the Japanese currency lower, causing yen pairs to surge across the board.

With oil prices rebounding off their lows on Friday, traders are now focusing on crude's impact on the dollar. Brent has been finding support around the $100 a barrel level, which could provide renewed backing for the dollar if prices continue higher.