US Dollar Gains as Investors Trim Fed Rate Hike Expectations
The US dollar rose as investors weighed Middle East tensions and trimmed Fed hike bets. Markets now see a higher chance of rates remaining on hold this year.
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The U.S. dollar maintained its gains as Asian markets opened in Singapore on Thursday. Investors are looking for signs of potential de-escalation in the conflict between the United States, Israel, and Iran, while simultaneously reducing expectations for further interest rate hikes from the Federal Reserve.
Against the Japanese yen, the dollar traded flat at 159.41, hovering near its strongest performance levels of 2024. The Australia dollar edged down 0.1% to $0.6943, while the New Zealand dollar held steady at $0.5806.
