Dollar firms as Fed members talk of tightening
The dollar was poised to push higher on Thursday as hawkish comments from the U.S. Federal Reserve led markets to bring forward the likely timing of a policy tightening there, while action in Europe and Japan remain distant prospects.
The euro was down at $1.1837, having recoiled from a top of $1.1899 overnight and marking another failure to crack resistance around $1.1910.
The dollar also bounced to 109.51 yen, from a trough of 108.71 on Wednesday, negating what had been a bearish break on the downside.
The rally came after Fed Vice Chair Richard Clarida said conditions for an interest rate hike could be met in late 2022, setting the stage for a move in early 2023.
He and three other Fed members also signaled a move to taper bond buying later this year or early next depending on how the labor market fared in the next few months.
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