Wednesday, September 23, 2026

Business News

Dollar holds near two-month high as rate hike expectations rise

The US dollar held near a two-month high on Wednesday as expectations of further interest rate increases supported the currency, while falling oil prices and hopes for a diplomatic breakthrough in the Middle East kept investors cautious.

ONA

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Wednesday, September 23, 2026

NEW YORK: The euro stood at $1.1446 in early trading, remaining close to its lowest level since late July, while the British pound traded at $1.3337.
The Dollar Index, which measures the US currency against six major currencies, was at 100.56 points.
Currency markets have been closely watching recent interest rate decisions and hawkish signals from major central banks. Federal Reserve officials have indicated that further rate increases could be considered if inflation fails to ease, reinforcing expectations of tighter monetary policy.
Oil prices also remained a key focus for investors. Brent crude futures reached $99.22 a barrel, amid expectations that diplomatic efforts on the sidelines of the United Nations General Assembly could contribute to a resolution to the conflict in the Middle East.
The Japanese yen weakened to 157.55 per dollar, as traders remained alert to the possibility of intervention by Japanese authorities in the foreign exchange market.

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