Dollar remains near two-week high

The US dollar remained near its highest levels in two weeks, supported by hawkish comments from the Federal Reserve Chair, who indicated that the central bank still has work to do to bring inflation back to its 2% target. This increased the likelihood of a rate hike in September to 57%, with the dollar index stabilizing at 99.6 points. In contrast, the Japanese yen faced pressure, reaching 159.78 yen per dollar, amid expectations of government intervention to support the currency. Meanwhile, markets await the outcomes of the G20 meeting and the US jobs report to determine the direction of monetary policy, amid military tensions in the Gulf region.

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