US Dollar Shows Resilience Ahead of Fed Meeting

The US Dollar Index (USD) remained virtually unchanged on Monday following a bearish opening, as market participants took a cautious stance ahead of the Federal Reserve's monetary policy meeting.

A relief rally that was triggered by the United States and Iran's decision to pause strikes proved short-lived, with the USD losing some ground but ultimately ending the day flat. The US Dollar showed resilience despite ongoing tensions between the two nations, with a recent Iranian official stating that Tehran will 'never allow the United States to determine the timing of war and peace.'

In other news, oil prices stabilized after a 9% drop on Monday, trading modestly lower at around $83.50 per barrel. The West Texas Intermediate (WTI) price has seen significant fluctuations in recent days, with market participants closely watching developments in the Middle East.