Reuters

Author: Tom Westbrook

SYDNEY (Reuters) – The dollar began the week with support as traders see higher US interest rates and the appearance of several Federal Reserve officials push for higher interest rates.

After falling on Friday, the green card rose 0.2% in the Asian session, rising above the 200-day moving average to $ 1.1338. It was up 0.11% at 115.79, close to last week’s five-year high of 116.35.

Asian trade was thwarted by a holiday in Japan.

Federal Reserve Chairman Jerome Powell and Gov. Lael Brainard testified before Senate committees this week that they have been named Fed chairman and vice president.

U.S. inflation figures are on Wednesday, with the overall CPI rising to 7% year-on-year.

“It is likely that some of its losses on Friday will recover from Powell’s comment as a result of the rise in U.S. inflation,” said Qi Gao Scotiabank FX strategist.

In the end, however, he added that the greenback would probably run out, and that the index would move toward 94 with the money market rising in price at the Fed’s March high.

The dollar index rose 0.1% last time to 95,912.

Talks between the US and Russia have also raised concerns about rising tensions in Ukraine, as both sides are far apart and the failure threatens an armed confrontation on the threshold of Europe.

The Australian dollar was hovering around $ 0.7195, finding a small support for the rise in bond yields. It faces a resistance of about $ 0.7200 and a huge hurdle of $ 0.7276 that lasted for several weeks. [AUD/]

It was stable at $ 0.67773.

The dollar was sold at the end of last week, when a headline in the U.S. job creation figure was weaker than expected when traders pulled the dollar out of long positions.

But analysts said the unemployment rate, which is better than expected, was still a good reason for the rise.

Traders rated the rate as nearly 80% higher in March and another 70% higher in June, according to CME’s FedWatch tool.

The pound was also slightly weaker against the dollar, but the Bank of England (BOE) is likely to agree with the Fed. [GBP/]

The last one was $ 1.3586, near a two-month high, and close to last week’s two-year high. MUFG strategists believe traders are very proud of their UK rate expectations, but they still believe the pound will hold up.

“We still expect two BOE rate hikes, which should be kept under modest downward pressure, which will rise to the 1.4000 level,” they said in a forecast note released over the weekend.

Cryptocurrencies have come under pressure from widespread risky asset sales earlier this year, but remained stable in Asia after bitcoin managed to maintain $ 40,000 support through weekend trading.

last bought $ 42,000 and ether $ 3,173.

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Currency supply prices at 0446 GMT

Description RIC Latest US Close Pct Switch YTD Pct High Bid Low Bid

Previous Change

Session

Euro dollar

$ 1.1337 $ 1.1362 -% -0.22 -% -0.28 +1.1360 + 1.1334

Dollar / Yen

115.7750 115.5500 + 0.00% + 0.46% +115.8450 +0.0000

Euro / Yen

131.25 131.24 + 0.01% + 0.00% +131.3700 +131.2100

Dollar / Switzerland

0.9200 0.9185 +% 0.19 + 0.88% +0.9204 +0.9187

Pound sterling / dollar

1.3586 1.3598 – 0.06% + 0.48% + 1.3597 + 1.3583

Dollar / Canadian

1.2643 1.2648 – 0.05% – 0.02% +1.2656 + 1.2636

Aussie / Dollar

0.7193 0.7183 + 0.16% – 1.03% +0.7198 +0.7173

NZ

Dollar / Dollar 0.6770 0.6771 + 0.04% -1.04% +0.781 +0.6769

All places

Places in Tokyo

European spots

Volatility

Information on the Tokyo Forex Market from BOJ