Dollar gains on oil and Fed prospects
The US dollar rose against major currencies, supported by rising oil prices and market anticipation of the Federal Reserve's meeting minutes and statements by central bank officials regarding interest rate hikes. The euro declined by 0.83% to reach 1.1166 dollars, with pressure on French bonds, while the dollar index increased by 0.64% to 102.49 points, driven by demand for safe-haven currencies and higher oil prices that boosted the dollar in the short term. Markets are pricing in a 21.6% probability of a Federal Reserve interest rate hike in October, with potential expectations for a hike in December, amid signs of slowing economic growth indicators, retail spending data, and employment figures.
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