Hawkish Fed lifts dollar to seven-week high as focus turn to BOJ

On Thursday in Hong Kong, the US dollar held onto a seven-week high following a decision by the Federal Reserve to raise interest rates while signaling additional rate hikes in the coming months.

The surging strength of the dollar exerted downward pressure on other major currencies, pushing the euro down to US$1.1456 near a seven-week low, while sterling remained flat at US$1.3377.

With the Federal Reserve's hawkish policy move enacted, market attention has begun shifting toward the Bank of Japan (BOJ) as investors await further developments in global monetary policy.