By Gina Lee

Investing.com – The dollar was up on Wednesday morning in Asia after a three-day loss, and was near a one-month low against the yen. Investors now await the latest U.S. inflation data that could provide a clue to the U.S. Federal Reserve’s timetable for interest rate hikes.

This chart tracks the greenback’s performance against other currencies and has risen 0.08% to 94.032 as of 11:54 PM ET (4.54 GMT)

The pair dropped 0.02%, to 112.82.

Both the pair fell 0.11% to 0.7367, and both pairs declined 0.20% each to 0.7111.

This pair climbed 0.03% to 6.3934. It grew 13.5% over the previous year.

It climbed 0.02% up to 1.3557.

Tuesday’s data showed that the U.S. PPI grew 0.6% and 8.6% in October. This figure will be available later in the day.

“We’ll need to see a print of 0.8% month-on-month to see the dollar index break out of the top of the range of 94.50,” Pepperstone head of research Chris Weston said in a note. While the dollar has been trending lower against the yen, “if U.S. CPI comes in hot then this poses a risk to USD/JPY shorts,” Weston added.

St. Louis Fed President James Bullard has noted the corporate pricing power of the Fed and already wrote in two interest-rate hikes for 2022 in the ongoing discussion about the Fed raising interest rates. San Francisco Fed President Mary Daly, on the other hand, expects “eye-popping” inflation to subside in 2022 as supply-chain bottlenecks subside.

Joe Biden visited Fed Governor Lael brainard. This is a possibility for her to become the Fed’s next Chairman. She is considered a dovish pick, and “Brainard’s possible nomination as Fed Chair is chipping at the dollar,” Westpac analysts said in a note.

“Otherwise, the underlying picture remains dollar-supportive,” the note added.

Bitcoin traded at $67,000, just a few hundred dollars below the record of $68,564.40 on Tuesday.