Dollar New Price | Currency Exchange Rates Update | Dunya News

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 the new Bank of Japan governor on Tuesday.

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.

"The dollar has been well supported since the much-stronger-than-expected U.S. jobs data earlier this month, and Fed comments have leaned more to the hawkish side, but of course the focus is tomorrow's CPI," said Shinichiro Kadota, senior FX strategist at Barclays in Tokyo.

"I think the market is more worried about upside risks to inflation, rather than downside risks."

Ahead of Tuesday's CPI report, revisions to the previous data set showed consumer prices rose in December instead of falling as previously estimated.
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