Dollar hits one-year high on Fed hike bets; yen nears 40-year low (opens original article in a new tab)

The U.S. dollar reached a one-year high as traders anticipated potential Fed rate hikes, while the Japanese yen approached a 40-year low amid ongoing currency volatility and concerns about possible intervention. The euro and British pound also declined due to inflation worries and leadership uncertainty.

• U.S. dollar hits one-year high due to Fed rate hike expectations
• Yen nears 40-year low amid ongoing currency volatility
• Fed funds futures indicate over 80% chance of September rate hike
• Japanese authorities consider currency intervention amid yen weakness
• Euro and British pound decline on inflation concerns and leadership uncertainty