Dollar Moves Amid Hike Expectations

The dollar temporarily stabilized despite rising expectations of a US interest rate hike, as the currency index fell by 0.07% to 99.09 points amidst the US markets' holiday. Investors are awaiting inflation data scheduled for release later this week, with a 57% probability of a rate increase in September. Conversely, the US dollar weakened against the Japanese yen, which rose by over 0.2% to 155.88, amid expectations that the Bank of Japan will tighten its policies. The euro remained steady at 1.1618 dollars ahead of the potential European interest rate hike to 2.75%. Meanwhile, the Australian dollar rose by 0.12% to reach 0.7208 USD.

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