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Dollar hits two-week high ahead of Fed decision
The US dollar rose today amid escalating tensions in the Middle East, leading to increased demand for the currency as a safe haven, while markets await the Federal Reserve's decision on interest rate hikes. The dollar index reached 99.648 points, the highest since early September. Meanwhile, the euro fell to its lowest monthly level at 1.153 dollars, and the British pound declined to 1.3474 dollars. Oil prices also increased by 3% to $108 per barrel, due to attacks on Saudi Arabia and the Kingdom's closure of its pipeline, raising concerns about energy supplies. Markets now show a 90% probability of a rate hike at the Federal Reserve meeting on Wednesday, according to the "Fed Watch" tool, up from 60% a week earlier. In contrast, the Japanese yen weakened to 154.88 yen per dollar, and Bitcoin rose by 0.6% to $77,805.
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