Dollar Strengthens Ahead of Fed Rate Hike Expectations

Global markets are focused on the Federal Reserve and Bank of Japan policy meetings as the US Dollar strengthens towards 99.50 due to increased expectations for a Fed rate hike.

The strengthening US Dollar is also influenced by elevated energy prices, which are shaping sentiment across currencies and commodities.

In related news, Oman's Minister of Foreign Affairs discussed regional developments with the US Secretary of State in a telephone call, aiming to reduce tension and contain its repercussions.