Dollar strengthens to $7.17 on US rate expectations; Brent drops 16% weekly

The dollar opened at $7.17, up, reflecting a strong rebound driven by expectations of higher US interest rates. Meanwhile, Brent crude fell 16% last week, its biggest weekly drop since the pandemic onset, with prices at $97.57 per barrel. The dollar's strength and oil's decline signal shifting market dynamics, likely impacting emerging market currencies and energy importers.

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