- The dollar is surging and sits near a 40-year high versus the yen (around ¥161–162), with traders braced for possible direct Japanese intervention.
- Fed forecasts showing several policymakers now expect a year‑end rate hike have lifted the dollar, as markets price in further tightening.
- Geopolitical jitters — uncertainty over a U.S.-Iran peace deal — are keeping the dollar bid as a safe-haven currency.