Fed Tightening Lifts Dollar and Weakens Other Major Currencies Except for Yuan

The dollar surged to a three‑month high after the Fed’s first rate hike since 2023, while the yen weakened and the yuan firmed on stronger central bank support. In MENA, most currencies softened or held steady under dollar strength, with geopolitical risks curbing FX inflows. Gold and silver rallied as yields fell, while oil swung on Middle East supply headlines, retreating after Saudi pipeline flows were set to resume and tankers continued through Hormuz.

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