Dollar hits 7-week high as markets await BoE and BoJ decisions
The dollar rose to its highest level in seven weeks after the Federal Reserve raised interest rates and indicated future increases, with a 90% probability of another hike by the end of the year. The market is awaiting the Bank of England’s decision, which is likely to raise interest rates today, and the Bank of Japan, which is expected to increase rates tomorrow to the highest level in 31 years to combat persistent inflation. The euro hit its lowest point in seven weeks against the dollar, while the yen remained near its two-week low, and Bitcoin stabilized at around $76,562.
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