Dollar declines as rate hike forecasts decline
The US dollar remains near its lowest levels in several months due to a decline in interest rate hike expectations by the Federal Reserve, following weak economic data. The ongoing tensions in the Middle East and their impact on the markets also contribute to this situation. Expectation of a rate hike has decreased to 35% from 52.2% a week ago, amid concerns over inflation and persistent regional tensions, especially after Iran announced a shift in its policy to "full-scale aggression." In contrast, the euro and British pound have both risen to near their highest levels. Meanwhile, analysts remain cautious about the inflation path amid ongoing geopolitical developments.
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