Baku:The US dollar has retreated from an 18-month high, influenced by declining oil prices and a reassessment of the currency's recent rally driven by artificial intelligence. Investors are now looking for new indications regarding the future of US interest rates.
According to Emirates News Agency, the dollar index, which tracks the greenback's performance against a basket of six major currencies, decreased by 0.25% to 102.27.
The euro appreciated by 0.3% to reach US$1.1189, rebounding from its lowest point since May 2025. Simultaneously, the Japanese yen strengthened by 0.15% to 158.38 per dollar. Additionally, the euro gained 0.21% against the yen, reaching 177.32 yen. Meanwhile, the Australian dollar was at US$0.6979 following a unanimous decision by the Reserve Bank of Australia to raise interest rates for the fourth time this year.
