Dollar hits 19-month high on expectations of Fed rate increases

The US dollar reached its highest level in 19 months, driven by growing market expectations for further interest rate increases by the Federal Reserve. The Japanese yen has also drawn attention, with its exchange rate approaching the psychological threshold of 160 yen per dollar, raising the risk of intervention by Japanese authorities. Markets are pricing in a shift in Fed policy that may set a new direction for global currency markets.

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