The US dollar rises and falls as the Middle East peace reduces the Fed’s hawkishness
This week, the US dollar took a back seat as reports of an Israeli-Iranian ceasefire boosted global markets. Despite the fact that Federal Reserve Chair Jerome Powell stated that interest rates would remain high for the foreseeable future, investors focused on reducing global tensions. What happened? The US Dollar Index has plummeted significantly, to roughly 97.65, its lowest level since early June.
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