US dollar rises, yen steady ahead of Fed and BOJ meetings

The dollar rose today, after higher-than-expected inflation data in the United States indicated an increased possibility that the Federal Reserve (the US central bank) would postpone cutting interest rates.

The dollar index rose by 0.068% to 103.45, while the yen stabilized at 148.32 against the dollar and is heading for a weekly decline of 0.8%, its largest weekly decline since January.

The Australian dollar fell 0.18% to $0.6569, the New Zealand dollar fell 0.53% to $0.6099, the euro fell 0.04% to $1.0875, and the British pound fell 0.15% to $1.2735 before the Bank of England’s monetary policy meeting next week.