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Dollar nears two-week high on rate hike expectations
The US dollar rose to near its two-week high, supported by increased expectations of interest rate hikes from the Federal Reserve, driven by a rise in US Treasury yields to their highest levels since January 2025. The market is hinting at a possible 25 basis point increase in September. Meanwhile, the euro remains weak and shows mixed signals in its inflation indicators. The yen continues to fluctuate ahead of expectations of a rate hike from the Bank of Japan, amid warnings that the Japanese currency may face ongoing pressure due to rising US yields. Markets are looking ahead to review upcoming US labor market data, which will shape the dollar's next direction, with high chances of a rate increase if inflation and jobs data come in higher than expected.
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