The US dollar is experiencing a significant rally. Traders are betting the Federal Reserve will raise interest rates soon. This has strengthened the dollar against major currencies like the euro, Canadian dollar, and yen. The Fed's policy update is boosting US assets. The US economy's strength is also a factor. Oil prices are retreating following a US-Iran deal.

The dollar weakened ahead of the Federal Reserve's policy decision, with optimism over a U.S.-Iran peace deal boosting risk appetite. The yen also struggled against a softer…

The US dollar posted its biggest gain in three months after Federal Reserve officials signaled support for rate hikes, pressuring crypto and risk assets.