TOKYO: The dollar held firm near an 11-year high versus a basket of major currencies on Wednesday, as investors awaited US economic data and a European Central Bank meeting later this week for fresh clues on policy direction.
The dollar index edged up 0.1 percent to 95.451. On Tuesday it had touched a high of 95.570, its strongest level since September 2003.
The dollar index has gained about 5.7 percent so far this year, helped by the US economy’s better performance against other major world economic regions and relatively higher US interest rates.
Their rises has slowed over the past month or so, however, as investors have seen fewer catalysts to move the dollar higher given the uncertainty over whether the US Federal Reserve will start raising interest rates by mid-year or wait a while longer.
