Euro/dollar parity rose above 1 level for the first time since 20 September.

The euro rose against the dollar, surpassing the 1 level for the first time in 5 weeks.

Before the European Central Bank’s interest rate decision tomorrow, the common currency euro rose above the 1 level for the first time since September 20 against the dollar.

The pair rose 0.6 percent to 1.0031. The Bloomberg dollar index is also down around 0.4 percent today.

The Fed meeting, which will take place next week, is expected to be effective in the movement of the dollar. The Fed’s continued aggressive rate hikes are expected to support the dollar.

Today, most emerging market currencies are also rising against the dollar. The biggest increase was in the Hungarian forint with 1.6 percent and the Thai baht with 1.5 percent.

The euro fell below the 1 level for the first time in 20 years against the dollar in July, as the dollar, which is seen as a safe haven by investors, strengthened against major currencies.