The US dollar hovered at a two-and-a-half-month peak today as investors adjusted bets toward a gradual reduction of interest rates.
The US dollar has climbed for three weeks to hit its highest since 2 August 2024 at 104.19 as expectations for aggressive interest rate cuts from the Federal Reserve have faded after a slew of upbeat economic data.
The yen was the biggest mover, sliding to 152 per dollar for the first time since 31 July 2024 as US Treasury yields and the greenback continued to march higher.
Against the yen, the dollar last traded at 152.08 yen, up 0.65%.
Elsewhere, the euro was last at $1.08035 and the sterling was little changed at $1.29925.
Source: Oman News Agency