The US Dollar remains elevated near 101.00 as traders await PCE inflation figures and assess Middle East developments.
The US Dollar (USD) traded close to 101.00 on Monday, near its 13-month peak of 101.13 reached last Friday. The currency’s strength reflects market expectations for persistent Federal Reserve policy amid inflation concerns.
Prior to this, the USD had fluctuated around 100.50 earlier in the month, with traders balancing softer oil prices and geopolitical risks. The upcoming Personal Consumption Expenditures (PCE) inflation report is seen as a critical gauge for Fed policy direction.
Markets showed limited immediate reaction, with focus shifting to the PCE data and broader risk sentiment tied to Middle East tensions.