The US dollar surged to a year-high on Tuesday, driven by expectations of a more aggressive Federal Reserve and ongoing Middle East uncertainty. Traders are anticipating rate hikes, with major banks revising their forecasts. Meanwhile, the Japanese yen teetered near a four-decade low, prompting speculation about potential intervention by Japanese authorities amidst growing concerns over sharp currency swings.
The US dollar hit a one-year high on Tuesday, fueled by expectations of aggressive Federal Reserve rate hikes and Middle East uncertainty. Major banks are revising their forecasts upwards. Concurrently, the Japanese yen neared a 40-year low, raising speculation about potential…
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