The dollar rose to its strongest since last November on Tuesday as traders consolidated bets on Fed tightening, pricing nearly two 25bp hikes by early 2027. "The dollar has room to run; it tends to strengthen ahead of Fed hikes and markets are discussing a possible September start to the hiking cycle," said Mizuho strategist Jordan Rochester. The euro slid to a one‑year low after ECB President Lagarde's comments trimmed odds of further ECB rate hikes. The yen remained under pressure as markets j

The dollar rose to its strongest since last November on Tuesday as traders consolidated bets on Fed tightening, pricing nearly two 25bp hikes by early 2027. "The dollar has room to run; it tends to strengthen ahead of Fed hikes and markets are discussing a possible September start to the hiking cycle," said Mizuho strategist Jordan Rochester. The euro slid to a one‑year low after ECB President Lagarde's comments trimmed odds of further ECB rate hikes. The yen remained under pressure as markets judge BOJ tightening too slow to stop depreciation, keeping FX intervention risk elevated.