The dollar rose on Wednesday in the wake of stubbornly high U.S. inflation data and tough talk on interest rates from Federal Reserve officials.
Japan's yen was off by 0.18% at 133.36 per dollar. It touched a six-week low earlier in the session at 133.44.But interest rate futures markets now price a peak above 5.2% and traders are becoming less sure that interest rate cuts are coming in 2023. Rates currently stand at 4.5% to 4.75%.
The U.S. dollar index , which gauges the currency against its peers, was up 0.23% to 103.49 after closing roughly flat on Tuesday.cooled more than expectedExpectations of higher interest rates tend to make a country's assets look more attractive, boosting their currencies, and vice versa. The Australian dollar fell 1.1% to $0.691. Meanwhile, China's yuan hit a one-month low at 6.845 to the dollar.U.S. retail sales figures are due later in the day.
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