Hawkish Fed Lifts Dollar to Seven Week High
The US dollar reached a seven week high following a Federal Reserve rate hike and hawkish guidance. Traders are now shifting focus to upcoming policy decisions from the Bank of England and the Bank of Japan.
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The United States dollar touched a seven-week high on Thursday after the Federal Reserve raised interest rates and signaled further tightening. The move followed a unanimous central bank vote, surprising traders who are now shifting focus to policy decisions in Europe and Asia. Markets are rapidly repricing borrowing costs as central banks ramp up efforts to combat persistent inflation pressures.
