US dollar climbs against major currencies on rate hike expectations
The US dollar strengthened after inflation data and hawkish Fed comments, fueling market expectations of a rate hike next month.
The US dollar experienced a notable surge against major currencies following the release of inflation data and hawkish comments from Federal Reserve officials. This positive momentum continued on Thursday, as the dollar gained 0.69% to reach 159.83 yen, marking its highest level in over two months. The euro suffered a decline of 0.61% to $1.11, hitting its lowest point since May 2025.
The British pound also depreciated by 0.47% to $1.33, nearing a two-week low, while the dollar strengthened by 0.86% to 0.832 Swiss francs, reaching its strongest level since mid-October. Overall, the dollar index, which measures the greenback's performance against six major currencies, rose 0.63% to 102.85, marking its highest level since April 2025.
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