Dollar holds near two-week peak
The dollar continued to fluctuate near its highest level in two weeks, supported by statements from the Federal Reserve Chair, who emphasized that the central bank might need to tighten monetary policy further if inflation does not return to the 2% target. This led to increased expectations of a US interest rate hike in September, with Treasury yields remaining around 4.33%. Tensions in the Gulf region intensified, particularly as pressures on the Japanese yen resurfaced, causing it to fall to over 160 yen per dollar. Markets are closely watching the G20 meeting to discuss efforts to support financial stability and tensions with Iran. Investors remain focused on upcoming jobs and inflation data, which will influence the Federal Reserve's decisions as it seeks to reduce and manage inflation and prices.
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