Dollar Drops to Four-Year Low Against Euro Ahead of Fed Rate Decision

The dollar has fallen to a four-year low against the euro amid expectations of a Federal Reserve interest rate cut, with markets also awaiting upcoming rate decisions from the Bank of England and Bank of Japan. The euro strengthened, and the dollar declined across major currencies as investors anticipate dovish monetary policy signals from the Fed, influenced by softening U.S. labor market data and robust retail sales. Other currencies like the British pound and Japanese yen showed mixed movements ahead of their respective central bank meetings.