The dollar steadied on Monday, holding its biggest weekly gain since 2022.
The dollar went up 1.6% against a basket of six major currencies last week after a small but unnerving upside surprise in US inflation cast doubt over bets on rate cuts, while European policymakers signalled a cut within a few months, Reuters reported.Â
It made a five-month top on the euro on Friday and traded near those levels early in the Asia day, buying a euro for $1.06.
The yen was the main loser on Monday, marking a 34-year low at 153.85 to the dollar.
The yen’s slide against the dollar has revived anticipation of currency intervention.
