By Gina Lee

Investing.com – The dollar was up on Monday morning in Asia starting the week strong as investors bet U.S. inflation data and appearances from several U.S. Federal Reserve officials would bolster the case for hiking interest rates.

That tracks the greenback against various currencies edged up by 0.19% at 95.905 as of 11:22 PM ET (4.22 AM GMT)

This pair rose 0.2% to 115.81. Japanese markets were closed during the holiday.

Both were up 0.277% to 0.7198 and the pair fell 0.077% to 0.6775.

The pair inched down 0.06% to 6.3738, with China’s and price indexes due on Wednesday.

It climbed 0.02% up to 1.3588.

Raphael Bostic of Atlanta Fed and Esther George from City Fed will be speaking throughout the week. Richmond Fed President Thomas Barkin, Philadelphia Fed president Patrick Harker, Philadelphia Fed President Patrick Harker and Charles Evans from Chicago Fed are also scheduled to speak. John Williams is New York Fed President.

Separately, Governor Lael Brainard and Jerome Powell, Fed chairman, will testify to Senate committees about their respective nominations for Fed chairs and vice-chairs.

After a disappointing U.S. employment report in December that was weaker than expected, the dollar saw some selling. Investors will now wait for inflation data later this week, which includes the.

Qi Gao, Scotiabank FX strategist said that the dollar index would likely recover some of Friday’s losses due to Powell’s possible hawkish comments and rising U.S. inflation.

He said that the greenback will likely run out of gas eventually and that the index would head towards 94 if money markets price in a Fed increase in March 2022.

In Atlantic countries, the pound was slightly stronger against the dollar. It has rallied over the possibility that the Bank of England will raise its rates to keep pace with the Fed.

Analysts at MUFG believe investors are being too hawkish about their rate expectations for the BOE, but they still think the pound can hold its ground.

In an outlook note, they stated that “we still expect two rate rises by the BOE. This should keep under moderate downward pressure. Which will result in moving up to about the 1.4000 point.”

over Ukraine are also on investors’ radars, with talk unlikely to end in a compromise and an armed confrontation likely.