Dollar Nears Month High as Yen Nears 160
The dollar stayed near a one-month high on rising Federal Reserve rate hike expectations. Meanwhile, the Japanese yen drifted closer to the key 160 level.
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The dollar held near a one-month high in early Asian trading on Thursday, supported by rising expectations of a Federal Reserve rate hike while the yen edged toward 160 per dollar. The dollar index rose 0.63% to 102.85, reaching its highest level since October 14. Traders increased bets on further monetary tightening following stronger-than-expected October inflation data and hawkish remarks from central bank officials in the United States.
