Dollar Set for Weekly Drop as Traders Cut Rate Hike Bets; Mideast Tensions Offer Support

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Geopolitics

17 July 2026 at 9:17 am

Dollar Set for Weekly Drop as Traders Cut Rate Hike Bets; Mideast Tensions Offer Support

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Summary

The dollar is set for a weekly decline after softer U.S. inflation data led traders to reduce bets on Federal Reserve rate hikes. However, escalating Middle East attacks provided some safe-haven bids for the dollar and boosted oil prices.

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