Dollar Holds Near Two-Month High

The dollar index, which measures the currency against six key rivals, stuck close to an almost two-month top touched overnight, as traders further pared bets for US rate cuts this year after last week's unexpectedly strong payrolls data. The US dollar rose to a 10-week peak against the yen on Thursday as markets grew more confident about a patient approach by the Federal Reserve to further monetary easing, even as a key inflation report loomed later in the day. The dollar index was little changed at 102.89, only slightly below Wednesday's high of 102.93, a level last seen on Aug. 16. The US currency edged up to 149.40 yen, and earlier touched 149.54 yen for the first time since Aug. 2. The euro was flat at $1.0940 following its dip to $1.0936 in the previous session. The Australian dollar gained 0.32% to $0.6740, buoyed by an equity rally in China. New Zealand's dollar rebounded 0.43% to $0.6089, but after plunging 1.19% to a three-week low at $0.6053 on Wednesday, when the central bank cut rates by a h alf point and hinted at further easing ahead. Source: Qatar News Agency