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.
The dollar added 0.13 per cent to stand at 157.25 yen early in the Asian day, the highest since June 3. Economists polled by Reuters expect headline U.S. consumer price inflation to ease to 0.1 per cent from 0.3 per cent last month, and core price pressures to remain steady on the month at 0.3 per cent
"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.
Source: Loan Digest (loandigest.net)
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