Forex
Dollar Surges on Fed Expectations, but Chinese Rate Sets New Low
The US dollar experienced a significant boost due to heightened expectations of a Federal Reserve rate hike this week, coupled with high oil prices.
However, despite the dollar's strength, the People's Bank of China set the dollar's reference rate at a new 3.5-year low today.
Among G10 currencies, the Swedish krona was hit the hardest, falling by around 0.8% due to uncertainty surrounding this weekend's election results.