Sharjah24 – Reuters: The dollar rose on Wednesday amid nervousness that surging energy prices could spur inflation and interest rate hikes, and as traders awaited U.S. jobs data for clues on the timing of Federal Reserve policy tightening.
The Reserve Bank of New Zealand lifted its official cash rate for the first time in seven years, but its resolutely hawkish tone only seemed to add to expectations that the Fed would follow suit and the kiwi dipped as U.S. yields rose.
The kiwi was last 0.9% weaker at $0.6891 and the Australian dollar fell 0.7% to $0.7265.
The euro was pinned below $1.16 and last bought $1.1567, scarcely higher than the 14-month low of $1.1563 it struck last week.
The yen fell to a one-week low of 111.79 per dollar in tandem with a rise in Treasury yields, which can draw investment flows from Japan. It was within range of the 18-month trough of 112.08 that it visited last Thursday.
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