Dollar’s Epic Drop Sends Franc and Yen Surging as Traders Weigh Fed Path

14-month low in the US dollar rippled through global currency markets as traders consider the impact of cooling US inflation on the Federal Reserve’s most-aggressive tightening cycle in a generation.

  • The Swiss franc rose to the strongest level since 2015 against the US currency.
  • Japan’s yen climbed more than 1% on the day to consolidate its gains below 140 per dollar.
  • The euro spiked to $1.11, and the British pound touched $1.30 — both hitting their strongest levels in more than a year.

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