Forex
Dollar Soars on Rate Hopes Amid Oil Price Easing
The US dollar has reached its highest level in two months, boosted by investors' expectations of further interest rate hikes.
Easing oil prices and diplomatic efforts to end the Middle East conflict have added uncertainty to the outlook, but recent rate rises and hawkish gestures from major central banks have supported the dollar.
The dollar index, which tracks the greenback against a basket of six major currencies, rose by 0.16% to 100.71 on Wednesday.
Oil prices fell on hopes of progress in diplomacy at the United Nations General Assembly, with Brent crude dropping to $98.46 a barrel for its sixth consecutive session decline.