The dollar index pared early gains to trade around 98 on Monday, hovering near its lowest levels since 2022, as traders dialed back some risk-off positioning while closely watching developments in the Israel-Iran conflict.
The two nations continued to exchange attacks for a fourth consecutive day, defying international calls for de-escalation. Investors are also looking to the G7 summit for potential responses to global flashpoints, including the crises in the Middle East and Ukraine, as well as ongoing trade tensions.
Meanwhile, attention is turning to a busy week of monetary policy decisions, with a particular focus on the Federal Reserve.
The Fed is widely expected to hold the federal funds rate steady, but markets will be closely analyzing the central bank's updated economic projections, especially for insights into how policymakers view the broader economic impact of President Trump's policies.
Source: Trading Economics
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