U.S. Dollar Edges Higher with Eyes on Fed

The U.S. dollar held onto modest gains early on Wednesday, having risen broadly after U.S. consumer prices recorded their largest increase in more than a year in May.

The dollar index last stood at 80.607, having climbed 0.2 percent on Tuesday. Against the yen, the greenback reached a one-week high of 102.25, while the euro retreated from a one-week peak to $1.3547.

U.S. consumer price index rose 0.4 percent, double what economists had expected, raising the risk that a separate inflation gauge watched by the Fed also pushed higher in May.


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