SYDNEY – The dollar started the week with support as traders bet U.S. inflation data and appearances from several Federal Reserve officials would bolster the case for higher interest rates.
After dipping on Friday, the greenback stood around its 200-day moving average against the euro at $1.1357 in early Asia trade on Monday. It firmed slightly on the yen to 115.65, fairly close to last week's five-year high of 116.35 per dollar.
Trade in the Asia session was thinned by a holiday in Japan.
HOW INFLATION WILL IMPACT YOUR 2022 TAXES
Federal Reserve chair Jerome Powell and governor Lael Brainard testify before Senate committees this week regarding their nominations as chair and deputy chair at the Fed.
U.S. inflation figures are due on Wednesday, with headline CPI seen climbing to a red-hot 7% year-on-year.
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