TOKYO : The dollar held near a one-year high versus major peers on Wednesday, amid rising expectations the Federal Reserve will announce a tapering of stimulus next month, potentially following with interest rate hikes by mid-2022.
A surge in energy prices has fuelled inflation concerns and stoked bets that the Fed may need to move faster to normalise policy than officials had projected, sending two-year Treasury yields to their highest in more than 18 months overnight. [US/] The euro changed hands at US$1.1541, well within sight of the previous session's US$1.1522, its lowest in nearly 15-month months.Traders will focus on consumer price data later on Wednesday for further insight into the timing of higher rates.
Sterling meandered in the middle of this month's range, trading little changed from Tuesday at US$1.3596.
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