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Dollar approaches two-week high amid soaring oil
The dollar recorded a slight increase, approaching its highest levels in two weeks, supported by rising oil prices which led to increased US Treasury bond yields and expectations of a Federal Reserve interest rate hike this week. The likelihood of this increase is estimated at nearly 93% according to market tools. The dollar is also experiencing temporary support from a decline in risk appetite following a drop in stock markets, especially shares of companies related to artificial intelligence. This comes amid expectations that the Federal Reserve will keep the door open for further monetary tightening, with the dollar index reaching 99.55, and the chances of a rate hike at the upcoming meeting on Wednesday increasing.
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