Dollar eyes third weekly gain on higher US rate expectations

The US dollar’s value approached a two-month high against its rivals as expectations rose that US interest rates could stay higher for longer than previously forecast. Concerns over US President Joe Biden’s debt-ceiling negotiations with the Republican Party’s Kevin McCarthy also continued to impact market sentiment. However, the dollar rose, sitting at ¥139.82 ($1.27) in early trading in Asia after reaching ¥140.23 in the previous session, its highest point since November. The US dollar index was five basis points lower at 104.18, just under Thursday’s two-month high.