Dollar hits yearly high, yen nears 40-year low
The value of the dollar has risen to its highest level in over a year, with the dollar index reaching 101.25 points, amid strong expectations of a rate hike by the U.S. Federal Reserve that could surpass 85% by September. Meanwhile, major currencies such as the euro and the British pound declined, and the Japanese yen approached its lowest levels in 40 years, amid concerns over currency market disruptions and potential interventions by Japan to counteract the currency's weakness.
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