· Dollar holds firm as inflation tugs yields higher
The dollar index rose 0.1% to 94.102, edging it back toward last week's one-year high of 94.563.
The dollar last bought 114.35 yen, traded at $1.1579 against the euro and was up roughly 0.2% at $0.7402 per Australian dollar.
Fed funds futures are priced for rate rises to begin soon after that is complete, with markets having pulled forward hike expectations to as soon as the third or fourth quarters of 2022, while two-year Treasury yields jumped to a 19-month high of 0.421%.
Swaps pricing also shows mounting pressure globally with an almost 30% chance of a Bank of England rate hike this year and nearly 80 basis points of hikes priced through 2022.
· Bitcoin hovers near 6-month high on ETF hopes, inflation worries
· Yuan slips after China's Q3 GDP slower than expected
The yuan slipped against the dollar on Monday, pressured by China's slowing economic momentum but lessening expectations for more monetary easing put a floor on further falls in the currency
In the spot market, onshore yuan opened at 6.4325 per dollar and was changing hands at 6.4375 at midday, 15 pips weaker than the previous late session close.
Several traders said heavy corporate demand for the yuan towards the year-end in light of the country's huge trade surplus could offset some of the yuan's weakness.
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