Dollar reaches week-high level

The US dollar rose to its highest level in over a week, supported by increased expectations of a Federal Reserve interest rate hike this week, especially as Treasury yields climbed and oil prices rose. The dollar index reached around 99.60 points, while the euro remained near its one-month low at approximately 1.1539 dollars, as the market continues to balance the risks of stagflation and the dollar's strength driven by hawkish monetary policies. Additionally, the Japanese yen declined by 0.3% to its lowest in over a week at 154.82 yen per dollar, awaiting the upcoming Bank of Japan monetary policy decision set for Friday. These movements come as crucial meetings of major central banks approach, with expectations that both the Federal Reserve and the Bank of Japan will raise borrowing costs to curb inflation.

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