By Gina Lee

Investing.com – The dollar was up on Monday morning in Asia. New Zealand data on inflation was better than predicted, and China’s data revealed slower growth. Hawkish comments from the Bank of England (BOE) governor also placed the possibility of interest rate hikes on investors’ radars.

That tracks the greenback relative to other currencies edged down 0.18% by 12:19 PM ET (4:19 GMT)

This pair was 0.12% higher at 114.36.

It was 0.2% lower at 0.7404. It rose 0.05%, to 0.7067. New Zealand’s consumer price index grew a higher-than-expected 4.9% and 2.2% in the third quarter.

The currency pair rose 0.05%, to 6.4369. Offshore trade was steady for the yuan, according to Chinese data. In September, the growth was 4.4%, 3.1%, and 4.1% respectively. The ratio was 4.9%.

It fell by 0.12% from 1.3733 to 1.3733.

The dollar fell around 0.6% from last week’s 2021 highs, as investors increasingly bet that inflationary pressures could mean earlier-than-expected interest rate hikes from the U.S. Federal Reserve but other central banks could be aggressive over the tightening cycle.

Andrew Bailey, Governor of the BOE said Sunday that rising energy prices will prolong inflation. Policymakers must act if they perceive risks.

Imre Speizer, Westpac currency analyst, said that the rest of the globe is likely outpacing the U.S. for inflation. This puts greater pressure on central banks than it does the U.S.

The surprise rise in CPI in New Zealand would only increase the necessity for the Reserve Bank of New Zealand (RBNZ) to maintain its unchanged interest rate hiking trajectory, he said.

The record price of bitcoin was $64,895 which is still a low level. It last sold for $62,233. it is considered an inflation hedge. The U.S. hopes to approve a futures-based, exchange-traded fund which would channel cash into this sector.