Dollar Strength and Oil Prices Take Center Stage Ahead of Fed Decision

Global markets are focused on the Federal Reserve and Bank of Japan policy meetings as a stronger US Dollar and elevated oil prices shape sentiment across currencies and commodities.

The US Dollar is nearing 99.50, driven by increasing expectations for a Fed rate hike, while Gold remains under pressure despite rebounding from its 50-day moving average.

The Japanese Yen and Swiss Franc are facing pressure against the USD, although both retain defensive appeal amid geopolitical uncertainty.

Meanwhile, WTI crude is trading near four-month highs as Middle East supply risks remain elevated, adding to inflationary pressures.