News: FOREX-Dollar finds a bid ahead of U.S. inflation

The dollar made small but broad gains on Tuesday and held a resurgent euro at bay as traders awaited U.S. inflation data, wary it could unleash bets on faster interest rate hikes.
The common currency EUR=EBS leapt 2.7% last week after a hawkish shift in tone at the European Central Bank.
But it has been unable to breach resistance around $1.1483 and eased by 0.2% to $1.1418 during the Asia session. The dollar edged 0.3% higher to 115.43 yen JPY=EBS , helped by five and 10-year Treasury yields ticking to more than two-year highs.
Stunningly strong U.S. labour data last week has put extra focus on inflation - forecast at a four-decade high 7.3% - in the lead up to March's Federal Reserve meeting.
Futures markets 0#FF: are pricing an almost 1-in-3 chance of a 50 basis point rate rise and the prospect of aggressive hikes has been supporting the dollar. FEDWATCH
"The surprise beat by the non-farm payroll numbers (which we were warned by Fed officials and the White House would be very weak due to Omicron) leaves the Fed in an unexpected territory," said NatWest Markets rates strategist Jan Nevruzi.
"The CPI will be critical on how the narrative develops until the March (meeting)," he said, though adding that barring a big surprise, March will probably bring only a 25 basis points hike.
The U.S. dollar index =USD rose 0.2% to 95.613. On Monday, bitcoin and the Australian dollar had posted gains as equity markets rallied in Europe, but the latter was a bit softer on Tuesday as a cautious mood prevailed in Asia.
The Aussie AUD=D3 fell 0.2% to $0.7109. Bitcoin BTC=BTSP punched through its 50-day average to top $44,000 for the first time in nearly a month on Monday and held there in Asia for a gain of more than 17% in four sessions.
The New Zealand dollar NZD=D3 was marginally softer at $0.6630. Sterling GBP=D3 eased 0.2% to $1.3514.
A quiet data calendar awaits on Tuesday, with a U.S. small business survey due later in the day. U.S. inflation data is due on Thursday.
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	Currency bid prices at 0546 GMT 
 Description	  RIC		 Last		   U.S. Close  Pct Change	 YTD Pct	 High Bid	Low Bid 
											  Previous				   Change				  
											  Session											
 Euro/Dollar	   EUR=EBS	$1.1419		$1.1442	 -0.20%		 +0.44%	  +1.1448	 +1.1418 
 Dollar/Yen		JPY=EBS	115.4400	   115.1050	+0.23%		 +0.31%	  +115.4750   +115.1900 
 Euro/Yen		 																			 
 Dollar/Swiss	  CHF=EBS	0.9251		 0.9235	  +0.18%		 +1.43%	  +0.9252	 +0.9228 
 Sterling/Dollar   GBP=D3	 1.3514		 1.3535	  -0.16%		 -0.08%	  +1.3538	 +1.3513 
 Dollar/Canadian   CAD=D3	 1.2694		 1.2667	  +0.22%		 +0.41%	  +1.2701	 +1.2666 
 Aussie/Dollar	 AUD=D3	 0.7111		 0.7126	  -0.20%		 -2.17%	  +0.7138	 +0.7107 
 NZ				NZD=D3	 0.6631		 0.6635	  -0.05%		 -3.11%	  +0.6654	 +0.6631 
 Dollar/Dollar																				   
All spots FX= Tokyo spots AFX= Europe spots EFX= Volatilities FXVOL= Tokyo Forex market info from BOJ TKYFX
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World FX rates	https://tmsnrt.rs/2RBWI5E 
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