Dollar rises amid talks on Fed asset taper
The dollar climbed on Wednesday morning in Asia. Investors now brace for United States’ inflation report with huge expectations that strong data would result in an earlier-than-expected asset tapering by the Federal Reserve.
The U.S. Dollar Index that measures the greenback against other major currencies nudged 0.01% higher to 93.062 by 12: 28 AM ET (4:28 AM GMT).
The USD/JPY pair jumped 0.09% to 110.66.
The AUD/USD pair dropped 0.12% to 0.7341, while the NZD/USD pair also shed 0.03% to 0.7005.
The USD/CNY pair fell 0.05% to 6.4830, and the GBP/USD pair declined 0.10% to 1.3830.
JFD Group head of research Charalambos Pissouros said the dollar is expected to maintain its gains following signs of Fed’s earlier asset tapering.
In the meantime, investors will have to wait for the U.S. inflation data and the core consumer price index set to be released today.