By Gina Lee

Investing.com – The dollar was up on Thursday morning in Asia as U.S. inflation eased less than expected, keeping U.S. Federal Reserve on course to tighten monetary policy aggressively.

That tracks the greenback against various currencies edged up by 0.11% at 103.980, 11:42 PM ET (3.42 AM GMT).

This pair fell 0.12% to 129.80. The yen is supported by long-term Treasury yields, which are now falling from their multiyear high above 3.2%.

Both the pair declined by 0.19% to 0.6924 while their respective drops of 0.46% and 0.6270 were also recorded.

While the pair increased by 0.42%, it fell to 6.7496. The pair dropped by 0.15% at 1.2231.

1.0526 was the euro’s slightest increase to $1.0526 A boost was seen in the euro as expectations were raised by the European Central Bank that the bank will increase interest rates in July. This is the first such hike in over a decade.

The April increase was 8.3% year over year. Investing.com had forecasted a 8.1% growth, but a 8.5% increase was reported in March.

Although inflation could have reached its peak, it remained at or near its 40-year highest. The data is unlikely to derail the Fed’s aggressive monetary policy plans.

The CME FedWatch tool shows that investors are anticipating at least two Fed meetings in June 15, and July 27, respectively.

“The stronger-than-expected U.S. inflation print heightened concerns over the need for the Fed to accelerate its policy tightening path,” National Australia Bank (OTC:) senior currency strategist Rodrigo Catril wrote in a note.

Bitcoins plunged and attempted to reclaim $30,000 in cryptocurrency after falling below this level for the first-time since July.