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Dollar hits highest in 18 months
The U.S. dollar reached its highest level in 18 months after minutes from the Federal Open Market Committee indicated a leaning towards monetary tightening, with most members supporting a quarter-point rate hike in September, as inflation remains the biggest threat to monetary policy. The dollar index remained steady at 102.23, close to its highest since April 2025, with expectations of no further rate hikes in the upcoming meeting. Against other currencies, the dollar declined against the yen by 0.2%, but remained strong, supported by data showing Japan's current account surplus reaching $25.7 billion in August.
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