Dollar at 6-month high against the yen on high expectations for US interest rates

SINGAPORE, May 23 (Reuters) – The dollar moved in a tight range on Tuesday after hitting a six-month high against the yen as expectations rose that US interest rates would remain high for a long time. At the same time, the impasse in debt ceiling talks makes risk appetite unsustainable.

The dollar index against a basket of six major currencies at 08:22 Moscow time was inactive near 103.27.

The euro and sterling held positions at $1.0805 and $1.243 respectively.

The Japanese yen rose 0.1% against the dollar to 138.46.

The Swiss franc fell 0.1% to $0.8986.

The Australian lost 0.11% to $0.6646 while the New Zealand dollar was stable at $0.6281.

The mainland yuan fell 0.25% to 7.0525​, and the offshore yuan fell 0.23% to 7.0631.

The Turkish lira was stable at 19.84 per dollar.

Bitcoin rose 2.06% to $27,410 while Ethereum jumped 2.24% to $1,858.4.

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