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Dollar strength remained a key pressure across major currencies and precious metals as Federal Reserve officials reinforced expectations for further monetary tightening.
Renewed expectations for further Federal Reserve tightening kept the dollar supported as policymakers continued to warn about persistent inflation risks.
Easing oil prices offered some relief to financial markets as renewed diplomatic efforts in the Middle East reduced immediate inflation concerns.
Monetary policy remained a key driver at the end of the week following the Federal Reserve’s first rate hike since July 2023.
The Federal Reserve’s latest rate hike kept the dollar firmly supported, pushing the euro toward 1.15 and sterling below 1.35.
Investors turned their attention to a packed central bank calendar as the Federal Reserve prepared for a widely expected 25-basis-point rate hike.
Central bank policy takes center stage as investors prepare for a series of major rate decisions this week.
This week, the attention shifted toward Wednesday’s Federal Reserve decision as persistent inflation and surging energy costs strengthened expectations for another rate hike.
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