Fed Rate Rise Prospects Limit Dollar's Falls -- Market Talk

0808 GMT - The dollar should be weaker than current levels after the U.S. and Japan confirmed joint currency interventions to support the yen and as oil prices fall on hopes for a U.S.-Iran deal, ING's Chris Turner says in a note. "The fact that the dollar is not broadly weaker probably owes to the unresolved issue of whether the Federal Reserve will hike in September," he says. Pricing for a September rate rise has recovered since last week's Fed meeting on the view that failure to act would lead to a further selloff in long-dated Treasurys, he says. The DXY dollar index falls 0.1% to 99.733 after reaching a seven-week low of 99.418 overnight. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

August 03, 2026 04:08 ET (08:08 GMT)