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Dollar dips after winning streak
The U.S. dollar declined in Asian trading on Monday after a three-day winning streak, amid a recovery in investor confidence and an increased appetite for risk due to assessments of the ongoing escalation in the Middle East. The dollar index fell by 0.1% to 100.69, while oil prices surged sharply, with Brent crude rising by 2.6% to $90.37 per barrel following Washington's announcement of strikes on targets in Iran in response to the killing of American military personnel in Jordan. In other currencies, the euro and the British pound each increased by 0.1% ahead of the European Central Bank's meeting, while the Japanese yen, Australian dollar, and New Zealand dollar remained stable. Markets are also awaiting the Federal Reserve's meeting on July 29, with an 85.6% probability of holding interest rates steady despite warnings of a possible hike to contain inflation.
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