Dollar holds near two-week high

The US dollar remained near its highest levels in two weeks, driven by increased tensions in the Middle East that led to a rise in oil prices, along with growing concerns about inflation. The dollar index rose by 0.11% to reach 99.79 points, while the yields on 10-year US Treasury bonds increased to 4.812%, the highest level since November 2023, before slightly retreating. Market expectations also rose for a potential rate hike by the Federal Reserve to 68% in September, amid statements from Washington emphasizing the need to take action to combat inflation. These moves aim to control the high inflation rate and mitigate the impact of global developments on the value of the US currency.

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