Dollar reaches over a year high

The U.S. dollar has risen to its highest levels in over a year, driven by market expectations of an upcoming interest rate hike in the United States, despite the Federal Reserve maintaining the interest rate between 3.50% and 3.75%. Markets are anticipating a rate increase by October, supported by strong retail sales data. Meanwhile, the euro and the British pound have fallen to their lowest levels in more than two months, and the dollar index has reached its highest point since May 2025. Additionally, the Japanese yen has dropped to its lowest levels since July 2024, amid warnings from the Japanese government regarding currency movements.

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