Fed policy makers have indicated that they may take tougher action to bring down inflation.
The dollar rose on Thursday, as oil prices stabilized and commodity-linked currencies gave up some of their gains, while the yen plunged to its lowest level since 2015.
The turmoil prevailed in stock markets and struggled to gain in Asian trading, as investors were more cautious after hawkish comments from the Federal Reserve.
Policy makers at the US Federal Reserve signaled on Wednesday that they may take tougher action to cut inflation, including raising interest rates by half a percentage point at the next meeting of the policy committee.
The Japanese yen fell against the dollar for the fifth consecutive session to its lowest level since 2015, while the Bank of Japan is expected to be late in raising interest rates for other central banks.
By 0825 GMT, the dollar rose 0.3% against the yen to 121.52 yen.
The dollar index rose 0.2%, while the euro fell 0.1% on the day to $1.0993.
The price of the cryptocurrency Bitcoin settled at about 43,100 dollars.
The Source
- reuters.com