The euro fell to a monthly low against the dollar, pressured by the dollar ahead of the Federal Reserve's decision

According to Jinshi reports, the euro against the dollar fell to a monthly low of about 1.1362 during the early European session on July 28. This major currency pair weakened as the market remained cautious ahead of the Federal Reserve's monetary policy announcement, with the dollar continuing its upward trend. The market generally expects the Federal Reserve to keep interest rates unchanged in the range of 3.5% - 3.75%, and investors will focus on the Federal Reserve's statement and Chairman Waller's press conference.

Data from the Chicago Mercantile Exchange shows that the probability of a rate hike by the Federal Reserve in September is 80.8%. At the same time, investors are awaiting the release of the preliminary consumer price index data for Germany and the Eurozone for July.