The dollar edged lower on Thursday but remained high. The dollar touched a one-and-a-half-month high overnight after the Federal Reserve, as expected, raised interest rates by 25 basis points. Fed officials expect at least one more rate hike this year, with Warsh stating that inflation is too high and has persisted for too long. Trump reiterated his call for lower interest rates after the decision. Michael Pfister of Commerzbank stated in a report that the biggest danger facing the dollar lies in the president increasing pressure on the Fed in the coming weeks, which could raise new doubts about the Fed's independence.
