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[Dollar Holds Above Seven-Week High, Forex Market Focuses on Bank of Japan and Bank of England Decisions] 1. The dollar fluctuated around 100.35 on Thursday, maintaining a seven-week high. Overnight, the dollar index surged 0.7%, recovering the 100 level. This followed the Federal Reserve's rate hike announcement and hints at further tightening in the coming months. Investors are now awaiting the Bank of England's rate decision later in the day and the Bank of Japan's policy meeting results on Friday. 2. Federal Reserve Chairman Warsh supported the unanimously approved rate hike, causing the dollar and US Treasury yields to rise in tandem. Fed officials confirmed a hawkish policy path and expect another rate hike in 2026. 3. Commonwealth Bank of Australia FX strategist Carol Kong stated that Warsh's stance was significantly more hawkish than the market expected, and his unexpected provision of forward guidance on the future path of rate hikes prompted the market to revise its interest rate expectations upward, ultimately driving the dollar higher. The bank expects the dollar to remain strong. 4. According to the CME FedWatch tool, the interest rate futures market currently indicates a roughly 90% probability of the Fed raising rates by 25 basis points before the end of the year. 5. Market attention has shifted to the Bank of Japan. It is widely expected that the Bank of Japan will raise interest rates to their highest level in 31 years on Friday and signal its intention to continue pushing up borrowing costs, joining other major central banks in addressing oil-price-driven inflationary pressures. Investors will be focusing on whether Governor Kazuo Ueda will provide clues about the timing and pace of future rate hikes. 6. Analysts point out that a more crucial question is how Ueda will describe the policy path after September, especially given that inflation remains high, and whether the Bank of Japan will hint at accelerating policy normalization. The yen is facing a test: last week, speculative positions turned to net long positions, and the yen rose to a seven-month high against the dollar, but Japanese retail investors are still maintaining short positions in the yen, believing that the recent gains may be unsustainable.