US dollar hits two-month high as Federal Reserve signals more interest-rate hikes

On Wednesday, September 23, the US dollar strengthened to its highest level in nearly two months as investors anticipated further interest-rate hikes by the US Federal Reserve. The dollar index rose 0.36% to 100.92, while the euro fell to its lowest since late July and sterling hit its weakest since early July. Oil prices rose above $100 per barrel, breaking a five-day decline, amid ongoing Middle East conflict. Investors also awaited a summit between US President Donald Trump and Chinese President Xi Jinping. The Japanese yen weakened to 158 per dollar, with traders wary of potential intervention.