Forex
Dollar Surges as Fed Hike Odds Rise
The US dollar has reached a one-month high as investors weigh the possibility of another Federal Reserve interest rate hike this week.
Market expectations for a 25-basis-point increase at the conclusion of the Federal Reserve's policy meeting on Wednesday have strengthened, with traders pricing in a 37.9% chance of a rate hike this week, up from 16% a week earlier.
The prospect of tighter US monetary policy has continued to support the dollar, even after a pause in US military strikes on Iran pushed oil prices lower and eased immediate concerns over inflation.