Dollar maintains two-month high

The US dollar maintained its highest levels in over two months amid expectations that the Federal Reserve (the US central bank) will raise interest rates this year. This increased pressure on the Japanese yen, pushing it toward levels that may trigger official intervention. While the US Federal Reserve kept interest rates unchanged, expectations of a rate hike grew amid inflation concerns. Meanwhile, the dollar index remained steady at 100.31. On another note, Japan launched its largest foreign exchange intervention to date, worth $73 billion, to support the yen, which had fallen to its lowest level since 2024.

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