The U.S. dollar clung to a more than two-month high on Thursday as markets ramped up wagers on Federal Reserve rate hikes this year, heaping fresh pressure on the Japanese yen toward intervention territory.
The U.S. central bank held rates steady in a 3.50%-3.75% range as new chair Kevin Warsh opened the new era with a sweeping policy review. Nearly half of policymakers, however, now expect a hike this year on mounting inflation concerns.
