The dollar stabilizes as inflation risks increase
The US dollar stabilized today, Thursday, after reaching its lowest level in a month. This came amid declining expectations of a Federal Reserve interest rate hike due to falling inflation and data showing an unexpected decrease in US producer prices in June, the largest in 14 months. Meanwhile, recent tensions in the Middle East supported oil prices, which continued to rise for the fourth consecutive day, fueling inflation concerns. Despite the dollar's weakness, geopolitical risks and rising energy prices keep the possibility of continued support for the US currency in play.
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