Dollar Retreats Ahead of Fed Decision Amid Rising Oil Prices
The US dollar retreated from its one-month highs as investors awaited the Federal Reserve's interest rate decision on Wednesday.
A joint strike by the US and Saudi Arabia on Iran-backed groups in Iraq sent oil prices higher, contributing to a rise in US Treasury yields.
The dollar had been hovering near a 40-year peak against the yen due to the spike in oil prices and renewed global trade tensions.