Dollar gains, euro slips after expected ECB rate increase

The dollar gained against major currencies on Thursday, reversing recent losses driven by rising oil prices and global bond yields, while the euro declined following the European Central Bank's anticipated interest rate hike. The ECB increased rates for the second time this year, aiming to curb inflation fueled by the Iran conflict.

The euro slipped 0.28% against the dollar, trading at $1.1599. Conversely, the dollar strengthened 0.42% against the Swiss franc, reaching 0.813. The dollar index rose 0.34% to 99.12, poised to break a streak of three consecutive losses.