HONG KONG : The dollar hovered below a 16-month peak in early Asian trade on Thursday, having lost ground on the pound and yen overnight as the U.S. currency took a breather while traders considered whether its recent surge was starting to run out of steam.
Against the Japanese currency, at 114.18 yen the dollar was still in sight of Wednesday's 4-1/2-year high of 114.97, and the euro was at US$1.1316, languishing near a 16-month low with markets seeing the eurozone near the back of the central bank rate-hike queue. The dollar index, which measures the currency against a basket of six rivals, has climbed from 93.872 on Nov 9, the day before the inflation data to 96.226 on Wednesday, its highest since mid July 2020. It was last at 95.798.
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