The dollar hit a 15-week high against the Japanese yen due to a 5-month high in U.S. consumer prices. Despite this, underlying inflation stayed moderate. Fed funds traders expect a rate cut in September. The dollar’s technical move also contributed to its gains, along with Nvidia resuming AI chip sales to China.

The euro and sterling weakened against the dollar, which strengthened against the yen. Trump’s tariff policies and inflation are key market concerns, along with the U.S. fiscal and debt outlook. Trump is pressuring Fed Chair Powell to lower rates, while looking for a potential successor as Powell’s term ends in May.

Bitcoin fell to $116,571 from a record high of $123,153 on Monday, as investors anticipate policy changes in the industry this week. Trump’s criticism of the Fed continues, with Powell requesting a review of renovation costs at the Fed’s headquarters. Treasury Secretary Bessent is already looking for Powell’s potential successor.

Read more at Yahoo Finance: Dollar hits 15-week high against yen as consumer prices gain