The dollar rises to a one-month low against the yen as investors await US inflation data on Investing.com

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Author: Gina Lee
Investing.com – The dollar rose in Asia on Wednesday morning after a three-day loss and was near a one-month low against the yen. Investors are now awaiting the latest U.S. inflation data, which could provide some insight into the U.S. Federal Reserve’s interest rate hike calendar.
Those who follow the greenback against a basket of other currencies rose 0.08% to 94.032 at 23:54 ET (4:54 GMT).
The pair fell 0.02% to 112.82.
The pair fell 0.11% to 0.7367 and the pair fell 0.20% to 0.7111.
The pair rose 0.03% to 6.3934. The Consumer Price Index (CPI) rose by 0.7% and 1.5% in October. It grew by 13.5% year-on-year.
The pair rose 0.02% to 1.3557.
Tuesday’s data showed that the U.S. PPI rose 0.6% and 8.6% in October, respectively. It grew by 0.4% month-on-month, and the figure will come later.
“We will have to see a 0.8% print per month to get the dollar index out of the top of the 94.50 range,” Pepperston chief research officer Chris Weston said in a statement. While the dollar has been. The downward trend against the yen, “If the U.S. CPI heats up, this poses a risk for the short USD / JPY,” Weston added.
In the debate over when the Fed will raise interest rates, James Bullard said St. The president of the Louis Fed has indicated the power of corporate pricing and has already raised two interest rates in 2022. San Francisco Fed Chair Mary Daly, meanwhile, expects “tremendous” inflation to subside in 2022 as supply chain bottles decline.
U.S. President Joe Biden met with Fed Governor Lael Brainard, a potential candidate for the next Fed chairman. The election is considered dovish, and “Brainard’s appointment as Fed chairman is in violation of the dollar,” Westpace analysts said in a statement.
“Otherwise, the picture below remains in favor of the dollar,” the note added.
In cryptocurrencies, bitcoin traded around the $ 67,000 mark, not far from a record high of $ 68,564.40 on Tuesday.
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