Tuesday, July 28, 2026

Business News

US dollar holds near one-month high ahead of Fed decision

The U.S. dollar traded near a one-month high as investors saw little likelihood of an interest rate hike at the Federal Reserve's policy meeting, while lower oil prices helped ease some inflation concerns.

ONA

info@thearabianstories.com

Tuesday, July 28, 2026

TOKYO – The dollar index, which measures the U.S. currency against a basket of major peers including the euro and the Japanese yen, rose 0.03 percent to 101.55. The euro slipped 0.01 percent to $1.1366.
Against the Japanese yen, the dollar gained 0.05 percent to 163.82, while the British pound edged down 0.02 percent to $1.3284.
The Federal Reserve is holding a two-day monetary policy meeting that concludes on Wednesday, with markets widely expecting interest rates to remain unchanged.
Among other major currencies, the Australian dollar fell 0.11 percent against the U.S. dollar to $0.6981, while the New Zealand dollar declined 0.12 percent to $0.5766.
In the cryptocurrency market, Bitcoin dropped 1.88 percent to $63,694.59, while Ether fell 2.83 percent to $1,890.30.

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