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U.S. Dollar Falls 0.1% on July 28 as Fed Rate Decision Looms

Forex Commodities

2026-07-28 22:01:29

CME1.82%

On Tuesday (July 28), the U.S. dollar retreated from a month-high, with the Dollar Index (DXY) declining 0.1% to 101.42. Oil prices fell for a second consecutive day, easing inflation concerns as the U.S. and Iran maintained a ceasefire that began over the weekend. Market focus now turns to the Federal Reserve's rate decision on Wednesday, with CME FedWatch data showing a 69% probability of unchanged rates and a 32% probability of a hike, reflecting lingering uncertainty amid volatile geopolitical developments.

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