Dollar softens as Fed expectations and oil remain in focus: Currency recap
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The U.S. dollar weakened by 0.34% to $98.95 as investors reacted to geopolitical tensions in Iran and changing Federal Reserve policy expectations. The dollar index rose 1.19% over the past week, driven by rising U.S. Treasury yields and inflation concerns. Major currencies like the euro and pound showed mixed movements, with the pound rebounding 0.81% amid UK political uncertainty. Overall, the dollar remains up 0.79% year-to-date despite recent declines.
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