Dollar holds its ground as key inflation data looms
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The dollar held tight ranges against most peers on Thursday as traders awaited key U.S. inflation data for cues on Federal Reserve policy. The yen received a slight boost following the release of the Bank of Japan's summary of opinions from its April meeting, showing many board members saw the need to raise rates and eventually reduce the bank's bond purchases. Last week's Fed policy meeting and downside surprise in U.S. job growth have markets increasing bets for two rate hikes this year. The dollar index rose to 105.55, while the Japanese yen was mostly flat at 155.59 per greenback. Sterling was down at $1.2487 ahead of the Bank of England's policy decision later on Thursday. The euro was steady at $1.0743. In cryptocurrencies, bitcoin fell to $61,436.49.

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https://m.economictimes.com/markets/forex/dollar-holds-its-ground-as-key-inflation-data-looms/articleshow/109964071.cms