The dollar index reached 101.55, its highest level in a month, ahead of the Federal Reserve’s decision. The probability of a rate hike as early as Wednesday surged to 36.3%, up from just 16% a week earlier, and climbs to 81% for September according to CME FedWatch. Bitcoin fell 1.88% to $63,694 and ether declined 2.83% to $1,890, weighed down by the prospect of US monetary tightening. Dollar strength boosts the appeal of dollar-denominated investments and reduces appetite for non-yielding assets such as cryptocurrencies. Investors will also watch this week’s US Q2 GDP and core PCE inflation data.
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