SINGAPORE : The dollar was firm in Asia on Friday after hotter-than-expected U.S. inflation and hawkish comments from a Federal Reserve official unleashed a wave of bets on aggressive rate hikes, though similar pressures worldwide kept a lid on gains.
Treasury yields leapt and the dollar jumped to a five-week high of 116.34 yen during volatile overnight trade. [US/] "There is definitely a feeling of urgency at least for some members," said Commonwealth Bank of Australia strategist Kim Mundy in Sydney. The Aussie dollar, at $0.7145, is on track for a weekly rise of nearly 1per cent despite the dollar's Friday strength. The New Zealand dollar, last at $0.6658 is also heading for a second consecutive weekly gain. [AUD/]
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