Sharjah24 – Reuters: The dollar made a steady start to the week in Asia on Monday but stayed below Friday peaks, as currency traders seek a path between markets' volatile rate projections and central bankers vowing a wait-and-see approach despite surging inflation.
The next big test of faith in the Federal Reserve's insistence on patience looms on Wednesday, when U.S. inflation data is expected to show consumer growth running hot.
In the Asia session, the dollar was bid against the yen and clawed back some ground lost last week, rising 0.2% to 113.65 yen. The dollar also rose slightly on the euro to $1.1558, though remained below the 15-month top of $1.15135 made in the wake of strong U.S. labour data on Friday.
Sterling, which was walloped when the Bank of England (BoE) surprised traders by holding rates steady last week, hovered at $1.3478 after falling as far as $1.3425 on Friday, a five-week low.
The BoE's surprise triggered a sharp pullback in aggressive bets on imminent rate hikes in Britain and globally.
For an optimal experience, please
