The dollar rose to an 11-day high as expectations for a Fed rate hike and higher
oil supported demand. After earlier strong US jobs data and a
stronger-than-expected CPI last week, LSEG data showed money markets priced an
87% probability of a Fed hike at Wednesday’s decision. Tighter Middle East
tensions pushed oil higher, bolstering the dollar via safe-haven flows and the
US's role as a petroleum exporter. The DXY index was up 0.3% intraday at 99.453;
EUR/USD fell to 1.1549, a one-month low; GBP/USD slipped below 1.35, down about
0.2% on the day.
