Dollar hovers near two-decade high before inflation gauge

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Reuters UK

By Kevin Buckland TOKYO (Reuters) – The dollar hovered near a two-decade high against major peers on Wednesday, ahead of a key reading on inflation that should provide clues on how aggressive the Federal Reserve will be in tightening monetary policy. The dollar index, which measures the currency versus six rivals, was around flat at 103.92, not far from the high of 104.49 reached at the start of the week for the first time since December 2002. The euro languished at 1.05305, continuing to trade mostly sideways since plumbing a more than five-year low at 1.04695 at the end of last month. The ye…

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