Forex
EUR/USD Plunges to Seven-Week Low Amid Broad Dollar Strength
The EUR/USD pair is trading at a seven-week low of around 1.1459 on Thursday, as market sentiment favors the US dollar.
The Federal Reserve's decision to raise interest rates for the first time in three years and signals of further monetary tightening have supported the US dollar.
Fed Chair Kevin Warsh noted that inflation remains too high, citing data from last week that showed core inflation accelerated more sharply than expected in August.
The market expects the Bank of England to leave interest rates unchanged today, while anticipating a rate hike from the Bank of Japan on Friday.