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Dollar firms as Fed and Middle East tensions support the buck
The US Dollar Index held just above 101.00, bolstered by higher Treasury yields, while EUR/USD slipped back toward the 1.1350 area and GBP/USD rose to about 1.3280.
FXStreet said the US dollar started the week with slight gains, resuming its recent uptrend after Friday’s brief pullback.
The outlet linked the move to continued debate over further Fed tightening, plus re-escalating Middle East tensions that are supporting the dollar and limiting declines, with the US Dollar Index holding just above 101.00.
FXStreet also flagged a busy US and European data and policy calendar, including releases tied to housing, job openings, consumer confidence, and weekly crude inventory data, along with speeches by Fed officials and multiple ECB speakers.
In currency trading, FXStreet said EUR/USD faded Friday’s uptick and moved back toward the multi-week troughs near 1.1350, while GBP/USD extended Friday’s advance to fresh three-day highs around 1.3280.
Latest closeWTI crude $92.44 ▼2.3%|EUR/USD 1.139 ▲0.1%|GBP/USD 1.325 ▲0.0%