Dollar Dominance: Tracking the U.S. Currency's Global Surge

The U.S. dollar reached its highest level against the yen this month amidst global scrutiny of Fed policy and upcoming U.S. inflation data. Both Australian and New Zealand dollars experienced fluctuations as markets brace for interest rate decisions by central banks in the U.S., Australia, Canada, and Switzerland.

The U.S. dollar soared to its highest level against the yen this month, as traders await key U.S. inflation data due on Wednesday, which may provide further insights into Federal Reserve policy directions.

Australia's dollar remained steady with an upcoming central bank rate decision, showing resilience after rebounding on Monday from a four-month low. The yen stood at 151.45 per dollar after reaching a high not seen since November 28.

In contrast, the Australian and New Zealand dollars saw fluctuations amid expectations for upcoming rate decisions. Meanwhile, the euro, sterling, and the yuan displayed slight shifts against the dollar, reflecting cautious sentiment in global financial markets.

(With inputs from agencies.)