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Forex

Dollar Strengthens Ahead of Fed Rate Decision Amid Oil Price Surge

Guavy AI Editorial Team
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EUR USD
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The U.S. Dollar Index has gained ground ahead of the Federal Reserve's interest rate decision. Traders are cautious, expecting the Fed to leave rates unchanged but facing a 33.7% chance of a rate hike.

As traders wait for the announcement, the DXY index rebounded towards the 101.50 level after failing to settle below its support at 101.15-101.30.

The EUR/USD pair is losing ground due to the strong rally in oil markets, with prices up by over 7% following Iran's attack on a U.S. base in Jordan.

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