Dollar firm ahead of key inflation test, Fed forecast update
TOKYO - The dollar hovered near a one-month peak against the euro and pushed to a one-week high versus the yen on Tuesday as traders braced for crucial U.S. inflation data and fresh Federal Reserve interest rate forecasts the following day.
Economists polled by Reuters expect headline U.S. consumer price inflation to ease to 0.1% from 0.3% last month, and core price pressures to remain steady on the month at 0.3% "The danger here for the BOJ is a 'buy the rumour, sell the fact'-type reaction," which"catapults" the dollar through technical resistance at 157.70 yen, said Tony Sycamore, a market analyst at IG.
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