The dollar took a breather on Friday after a volatile overnight session as red-hot US inflation data pointed to more aggressive interest rate hikes, while traders were on edge about intervention as the yen wallowed near a three-decade low.
The dollar index was little changed after falling 0.5% in the previous session as investors digested data that showed US consumer prices increased more than expected in September.
However, the investment mood remained broadly cautious,which is likely to continue to support the dollar. “I doubt the weaker dollar will sustain … the dollar is the safe-haven currency currently,” Kong said. Investors remained on the watch for an intervention from the government to prop up the fragile currency.
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