US Dollar Strengthens, Market Awaits Jobs Data
The US dollar index strengthened to around 101.2 in trading on Tuesday (June 30). This strengthening puts the dollar on track for a second consecutive monthly gain, supported by expectations that the Federal Reserve still has the potential to raise interest rates several times this year.
So far this month, the dollar index has risen more than 2%. If this trend persists, the dollar has the potential to record its strongest monthly performance since July of last year. The market currently still expects three Fed rate hikes, with the first hike likely to occur in September.
Investors' focus is now on the monthly US jobs report. This data will be a key indicator of the strength of the US economy and the future direction of the Fed's interest rate policy.
On the geopolitical front, the market is also closely monitoring plans to resume peace talks between the United States and Iran in Doha. However, the chances of a permanent ceasefire remain uncertain, especially as Iran continues to monitor shipping traffic in the Strait of Hormuz despite Oman's absence. (asd)
Source: Newsmaker.id
