TOKYO : The dollar hovered near a five-week high against major peers on Monday on rising bets for prolonged Federal Reserve policy tightening ahead of a crucial consumer price report the following day.The yen slipped with the government set to nominate a candidate who backs the current policy settings as
TOKYO : The dollar hovered near a five-week high against major peers on Monday on rising bets for prolonged Federal Reserve policy tightening ahead of a crucial consumer price report the following day.
The risk-sensitive Australian and New Zealand dollars eased with Asian equities on worries that higher U.S. rates will choke growth. Sterling also retreated. Separately, the University of Michigan surveys showed a one-year inflation outlook of 4.2 per cent, higher than the final number in January. Fed Chair Jerome Powell has cited the Michigan survey as one of the indicators the U.S. central bank tracks.
The U.S. currency gained 0.18 per cent to 131.63 yen, although well within the range of the past week of 129.80 to 132.90.
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