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    • US Dollar Holds Near One-Month High Ahead of Federal Reserve Decision

    By on July 29, 2026
    Dollars
    Dollars

    Singapore: The US dollar remained near a one-month high today, supported by safe-haven demand following renewed hostilities in the Middle East, while investors awaited the outcome of the US Federal Reserve’s monetary policy meeting later today.

    Trading activity in Asian markets remained subdued, with investors adopting a cautious stance ahead of the Federal Open Market Committee (FOMC) decision.

    Market expectations currently indicate a 33 percent probability of a 25-basis-point interest rate increase.

    The stronger dollar kept the euro near a one-month low at USD 1.1386, leaving the single currency down 0.3 percent since the beginning of the month.

    Sterling slipped 0.06 percent to USD 1.3282, remaining close to its weakest level since 1 July.

    The US Dollar Index held steady at 101.43, while the dollar edged up against the Japanese yen to 163.88, maintaining pressure on the Japanese currency, which continues to trade near four-decade lows.

    Elsewhere, the Australian dollar was little changed at USD 0.6973 ahead of the release of domestic inflation data later today, while the New Zealand dollar declined 0.09 percent to USD 0.5782.

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