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US dollar inches higher against yen, euro

US dollar inches higher against yen, euro

SYDNEY: The dollar inched higher versus the yen and euro on Monday after the head of the US Federal Reserve underscored the view that the Fed is likely to start raising interest rates gradually later this year.

The dollar edged up 0.1 per cent to 119.24 yen. It has fallen more than 2 per cent from a near eight-year peak of 122.04 set early this month.

The euro slipped 0.2 per cent to $1.0873, having in the last two weeks pulled up from a 12-year trough of $1.0457.