Dollar reaches 7-week high ahead of BoJ decision

The US dollar has risen to approach its highest level in seven weeks, supported by increased US Treasury yields and Federal Reserve statements indicating a likelihood of raising interest rates again in the coming months, with an approximately 90% probability of another increase before the end of the year. In contrast, the strength of the dollar has pushed the euro down to its lowest level in seven weeks. Meanwhile, the Bank of Japan's decision on Friday is highly anticipated, as it may raise interest rates to the highest level in 31 years, with rising inflation continuing to push central banks toward tightening monetary policy.

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