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Dollar falls ahead of rate decisions and Hormuz reopening
The preliminary agreement to end the war in the Middle East has increased risk appetite, with the US dollar remaining near its lowest levels in 10 days, amid anticipation of central bank decisions and emphasizing that supply chain recovery will take time. Attention is turning to the Bank of England and Federal Reserve meetings for more data on inflation and interest rates, while the euro reached $1.159, and the dollar index remained steady at 99.66. Meanwhile, currency markets saw the Australian dollar stabilize at 0.7069, and the Japanese yen hover around 160 against the dollar, following Japan’s interest rate hike to the highest level in 30 years.
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