Dollar nears 19-month high as inflation fuels bets on bigger Fed rate hike next month

The US dollar is experiencing its largest weekly gain in two months as expectations for interest rate hikes increase. Strong US inflation data and comments from Federal Reserve officials drive these predictions, which also raise treasury yields. The Japanese yen remains weak and close to its lowest level in months, prompting concerns over potential government interventions. Furthermore, the Australian and New Zealand dollars also show declines against the US currency.