Dollar Surges Ahead of Potential Rate Hike

The U.S. dollar has continued to hold firm against major currencies, nearing multi-week highs as market participants anticipate a potential interest rate hike by the Federal Reserve.

Currency strategist Carol Kong from the Commonwealth Bank of Australia suggests that if the rate hike proceeds, it could bolster the dollar further.

The yen and New Zealand dollar have hit recent lows, with traders closely watching the Federal Reserve's actions. The yen is also rallying due to optimism around Japanese rate hikes and U.S.-Japan interventions.