US Dollar Gains Ground Amid Rising Interest Rates

p>The US dollar has been trading with a mostly firmer bias this week in relatively quiet market conditions. Rising interest rates in the US are supporting the greenback, which is technically oversold in the short term.

Russia and China have formally rejected adhering to the US economic sanctions on Iran, as expected. This move by the two major nations is likely to have little impact on the dollar's performance.

Today, the US will release several key economic indicators, including the advanced goods trade deficit, retail and wholesale inventories, weekly jobless claims, and the Kansas City Fed's August manufacturing survey.