Market outlooks for US rate peaks shift as monetary conditions prove to remain tighter for an extended period.
The US dollar index reached a 10-month high of 106.26 in the previous session before closing at 106.20.
The US dollar index last stood at 106.20, having peaked at a 10-month high of 106.26 in the previous session, while the euro languished near Tuesday’s six-month low and last bought US$1.0569. Fed officials have in recent days flagged the possibility that the central bank would need to raise interest rates further, after it kept rates steady last week but stiffened its hawkish monetary policy stance.
The elevated U.S. yields have spelt trouble for the yen , which edged marginally higher to 149.01 per dollar, after having slipped to a 11-month low of 149.185 on Tuesday. The 150 zone is seen by financial markets as a red line that would spur Japanese authorities to intervene, like they did last year.
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