Business

Dollar Is Down, But Not Out, as Fed Prepares for More Rate Hikes

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US dollars banknotes at the Ninja Money Exchange, operated by Interbank HD, in the Shinjuku district of Tokyo, Japan, on Thursday, June 9, 2022. Caught in the crossfire between the two wildly different monetary policy regimes in Tokyo and Washington, at one point Tuesday, the Japanese currency was less than one yen away from its 2002 high of 135.15 per dollar. Photographer: Toru Hanai/Bloomberg

US dollars banknotes at the Ninja Money Exchange, operated by Interbank HD, in the Shinjuku district of Tokyo, Japan, on Thursday, June 9, 2022. Caught in the crossfire between the two wildly different monetary policy regimes in Tokyo and Washington, at one point Tuesday, the Japanese currency was less than one yen away from its 2002 high of 135.15 per dollar. Photographer: Toru Hanai/Bloomberg



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