Forex
Fed and BOJ Policy Decisions Set for Pivotal Week Amid Oil Price Volatility
The global currency market remains on edge as investors await crucial monetary policy announcements from the Federal Reserve and the Bank of Japan this week.
The US dollar has held steady on Monday, while the yen has inched closer to a seven-month high due to expectations of further rate hikes from the BOJ.
The ongoing U.S.-Israeli conflict is impacting Iran, leading to elevated oil prices above $100 per barrel, which has triggered bond market sell-offs and influenced interest rate forecasts.
The European Central Bank's recent rate hike has hinted at future increments, making the Fed's decision on Wednesday a pivotal moment in the market.