Doha: The dollar index declined Monday in global currency markets, while the Japanese yen rose to its highest level in more than two months, as investors awaited several factors, including monetary policy meetings and developments in US and Japanese policy. The dollar fell by about 1.3 percent against the yen to 153.73 yen and is heading towards a decline of nearly 3 percent over two trading sessions, its largest drop since August 2024, when the yen experienced a sharp rise due to a decrease in speculative trading.

According to Qatar News Agency, the dollar's decline contributed to gains in several currencies against the US currency. The British pound rose to its highest level in four months, while the Australian dollar reached its strongest point since September 2024. The euro climbed 0.4 percent to $1.1857, the pound rose to $1.36945, and the Australian dollar gained 0.4 percent to $0.6922.

The US Federal Reserve is expected to announce its interest rate decision on Wednesday, and markets do not anticipate any immediate changes, although policymakers have indicated the possibility of further rate cuts this year, with expectations of a total reduction of around 50 basis points.