Dollar Steadies Ahead of FOMC Minutes Amid US-Iran Tensions
The US dollar stabilized at around 99.6 on Tuesday as risk sentiment soured following the expiry of the US-Iran ceasefire.
President Trump rejected an extension, keeping the dollar above $90 and pinning long-end Treasury yields at fresh multi-year highs.
The July FOMC minutes are set to be released tonight at 19:00 BST, where three dissents in favor of a 25bp hike will be scrutinized for conditional language.
Three Federal Reserve officials - Hammack, Kashkari, and Logan - dissented from the decision, which may indicate a shift towards tighter monetary policy.