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Dollar reaches two-week high amid hawkish remarks
The US dollar rose to its highest level in two weeks after Federal Reserve Chair Kevin Warch's comments, which featured a hawkish tone, confirming that inflation has not improved significantly and that monetary policy will continue to be aimed at price stability. This led to an increase in interest rate hike expectations in September, with market tools indicating a more than 57% chance of a 25 basis point increase. US bond yields also rose, as economic outlooks deteriorated and investors were warned about inflation risks; moreover, the US national debt has surpassed $40 trillion, which boosted demand for safe-haven assets like gold and cryptocurrencies.
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