The dollar stabilizes but remains near its lowest levels in more than two months

The US dollar stabilized during trading on Tuesday, but remained near its lowest levels in more than two months against major currencies, with traders reducing their bets on raising interest rates, while the risks of escalation of the war in the Middle East kept market sentiment fragile. In terms of trading, the dollar index stabilized positively by 11:41 GMT at 99.6 points after falling to the lowest level since June 4.

The euro fell slightly from its highest level in two months at $1.161, which it recorded on Monday, and its latest trading settled without significant change at $1.157. The price of the British pound reached $1.352, down 0.1%, affected by weak data for the British labor market, remaining close to its highest level in three months, which it recorded in the previous session. Inflation fears return Data in recent weeks has indicated a slowdown in the US economy, including...

Unexpected job losses last month and moderate inflation data prompted investors to lower their expectations for an interest rate hike by the US Federal Reserve. But analysts focused more on the inflation risks resulting from the Middle East war, along with increasing financial pressures. Long-term borrowing costs in major Western economies rose to their highest levels in decades on Tuesday. Traders appreciate

Currently the probability of a rate hike during the Fed's September meeting is about 35%, compared to 52% a week ago, according to CME Group's FedWatch tool. Markets are no longer fully pricing in the possibility of a rate hike by the end of the year. But analysts remain cautious about the path of inflation, in light of the continued effective closure of the Strait of Hormuz and escalating tensions between the United States and Iran. Geopolitical tensions Iran announced that it would move to a situation

A “fully offensive” military operation, after negotiating efforts to end the war permanently reached a dead end, according to a senior Iranian official who spoke to Reuters, at a time when Washington ruled out extending the ceasefire agreement concluded in June. The war, which has been ongoing for more than five months, has increased inflation fears and reshaped global interest rate expectations. Intervention in the yen price and the Japanese yen fell slightly to 159.70 yen

For the dollar, after erasing about half of the gains it achieved following the joint intervention of the United States and Japan at the end of July, which aimed to push the currency away from its lowest level in 40 years at 163.99 yen to the dollar. Traders are monitoring the possibilities of implementing a new intervention in the currency market, in addition to the Bank of Japan meeting next month, where the bank is expected to raise interest rates, and is also considering accelerating the pace of monetary tightening after that.

•The white metal gives up

Highest level in a week • The end of the temporary peace agreement between the United States and Iran • Markets await the minutes of the Federal Reserve meeting

The Middle East Pharmaceutical Industries Company (Avalon Pharma) announced the signing of a strategic marketing agreement with Bio-Thera Solutions, under which it obtains exclusive rights to register and market the drug “Dupilumab” (a generic product of “Dupixent”) in the Kingdom of Saudi Arabia and the Middle East and North Africa region.

•Allen

Japan deepens its losses to the lowest level in 3 weeks • The dollar rebounds and oil rises due to fears of a renewed Iranian war • The yield on Japanese bonds jumps to the highest level in 30 years • Markets await more evidence about the path of Japanese interest rates