Dollar Rises Slightly Amid Stable Interest Rate Expectations and Middle East Tensions
The US dollar rose slightly against the major currencies but remained close to its one-month lows, as investors awaited the Federal Reserve's decision on interest rates, which is expected to remain unchanged at the upcoming meeting. The dollar benefited from its status as a safe haven, supported by US labor market data showing a decrease in jobless claims and an increase in retail sales. Additionally, rising tensions between the United States and Iran boosted oil prices by about 0.8% to $85.59 per barrel. Expectations for a US rate hike have decreased to around 10%, putting downward pressure on the dollar amid signs of slowing inflation and a cooling labor market.
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