The dollar edged toward a five-week high versus major peers on Monday as investors increased bets on the Federal Reserve keeping monetary policy tight for longer, while waiting for a U.S. consumer price report set for release the next day.
Separately, the University of Michigan surveys showed a one-year inflation outlook of 4.2%, higher than the final number in January. Fed Chair Jerome Powell has cited the Michigan survey as one of the indicators the U.S. central bank tracks.
The dollar index - which measures the greenback against six counterparts including the yen, euro and sterling - added 0.068% to 103.65, keeping close to last Tuesday's high of 103.96, the strongest level since Jan. 6.on Friday that former Bank of Japan board member Kazuo Ueda is set to become the next governor. In an interview the same day, Ueda said it was appropriate for the BOJ to maintain its current ultra-easy policy.
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