Dollar near one-month high as yen edges toward 160

The dollar reached near a one-month peak against other major currencies on Thursday, driven by anticipation of a Federal Reserve rate hike, according to early Asian trading on Thursday. The dollar index surged 0.63 percent to 102.85, its highest level since October 14, as traders increased bets on additional Fed tightening following robust October inflation data and hawkish statements from US central bank officials.

Goldman Sachs and other major brokerages now anticipate another rate hike early next year, in addition to the one scheduled for December. New York Fed President John Williams, who provided pre-October FOMC meeting views, will appear on a panel later Thursday and is closely watched for any insights on potential rate hikes. The euro appreciated 0.09 percent against the US dollar at $1.1099, while the British pound traded at $1.328.

The Australian dollar edged down 0.03 percent against the greenback to $0.6845, and New Zealand's kiwi rose 0.04 percent to $0.5564. Against the Japanese yen, the dollar slipped 0.12 percent to 159.58, despite being supported by significant interest-rate differentials, prompting traders to boost expectations of further Fed hikes.

Bank of Japan board member Toichiro Asada, a dissenter during the September decision to raise borrowing costs to 1.25 percent, is set to deliver a speech and hold a press conference later in the day. If Asada signals a cautious approach to additional rate hikes, the disparity in monetary policy between Japan and the US could become more pronounced, potentially leading to increased dollar buying and yen selling.