Dollar eases as oil prices fall on pause in Middle East conflict

The dollar eased against the euro and yen as Brent crude fell 8 percent to about 89 dollars a barrel after the US temporarily halted strikes on Iran. Traders see a 33 percent chance of a 25 basis point Fed rate hike at the July 28-29 meeting, while the Bank of England and Bank of Japan are expected to keep rates unchanged. Falling oil prices and improved risk appetite ahead of central bank decisions supported emerging market currencies, with markets also watching for possible yen intervention.