Dollar holds near two-month high amid rising oil

The dollar rose slightly to remain near its two-month high, driven by tensions between the U.S. and Iran, which have supported oil prices that exceeded $106 per barrel. The rejection of a peace agreement between Washington and Tehran has heightened concerns over energy supplies and inflation, prompting investors to anticipate interest rate hikes by the Federal Reserve. American economic data expected this week are likely to indicate further tightening of monetary policy, with a 65% probability of a rate increase in October’s meeting. Meanwhile, markets are closely watching developments in inflation and global labor markets.

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