Dollar hits 6-mth high versus yen on higher-for-longer US rate expectations

Dollar hits 6-mth high versus yen on higher-for-longer US rate expectations https://ift.tt/huPCf0H US dollar reached a six-month high against the yen as several Fed officials suggested that monetary policy may need further tightening. Minneapolis Fed President Neel Kashkari said the US rate may need to be 6% for inflation to achieve the 2% target, while the St. Louis Fed President James Bullard said the bank may need to increase it half a point this year. Meanwhile, the debt ceiling deadline prompted concern over the situation and boosted the US dollar's safe-haven status.