Muscat: The dollar held steady near a one-month high today, supported by safe-haven flows as hostilities resumed in the Middle East, while traders awaited a key Federal Reserve rate decision later today.
According to Oman News Agency, currency moves were largely muted in early Asian trading, as investors remained on the sidelines ahead of the Federal Open Market Committee's decision. Markets are currently pricing in a 33 percent probability of a 25-basis-point hike.
The dollar's strength exerted pressure on the euro, which slipped to a one-month low of $1.1386, reflecting a 0.3 percent decline since the start of the month. Meanwhile, sterling eased by 0.06 percent to $1.3282, hovering near its weakest level since July 1.
The dollar index steadied at 101.43, showing a slight gain against the yen, which reached 163.88. This movement continued to put pressure on the Japanese currency, which remains near its 40-year lows.
In other currency movements, the Australian dollar showed little change, standing at $0.6973 as the market awaited domestic inflation data expected later today. The New Zealand dollar experienced a slight slip, down 0.09 percent to $0.5782.
