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2026.06.2902:22:25UTC+00Dollar Holds Steady as Jobs Data Looms

The dollar index was little changed around 101.3 on Monday, after climbing to its highest level in more than a year last week, as investors awaited the latest US monthly jobs report for fresh insight into labor market conditions and the Federal Reserve’s policy outlook. Fed Chair Kevin Warsh reiterated the central bank’s determination to bring inflation under control, reinforcing the hawkish tone of his debut earlier this month that led markets to scale back expectations for US rate cuts this year. Markets are now pricing in three Fed rate hikes in 2026, with the probability of the first move in September standing above 60%. At the same time, investors continued to track geopolitical developments in the Middle East after oil prices advanced following renewed clashes between the US and Iran near the Strait of Hormuz, even as both sides agreed to halt further attacks ahead of peace talks scheduled to resume this week in Doha, Qatar.

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