Dollar climbs broadly in tandem with U.S. yields on hawkish Fed rate outlook

The greenback extended its recent winning streak and hit five-week highs against majority of its peers on Friday due to renewed market speculation that the Federal Reserve will continue to raise its rates to battle inflation in U.S.  
  
Reuters reported Federal Reserve officials have "a lot of time still" before they need to decide how large a rate increase to impose at the upcoming Sept. 20-21 policy meeting, Richmond Federal Reserve bank president Thomas Barkin said on Friday.    
With an unusually long eight-week gap between meetings, the Fed still has "another bite" at data including jobs, inflation and other reports that will shape whether the central bank opts for a half-point increase or a third consecutive three-quarter point hike.  
  
Versus the Japanese yen, dollar jumped to 136.37 at Asian open and continued to trade with a firm bias in European trading. The pair then ratcheted higher to a 3-week peak at 137.23 in New York morning on usd's broad-based strength before retreating to 136.73 on profit taking.  
  
The single currency traded sideways in Asia before recovering to session highs at 1.0095 in early European morning. However, price then met renewed selling there and tumbled on usd's renewed strength to a fresh one-month low at 1.003 in New York afternoon before stabilising.  
  
The British pound remained under pressure in Asia after U.K. consumer fell to a record low and tumbled in European trading despite upbeat U.K. retail sales data to 1.1816 ahead of New York open on usd's strength together with active cross-selling in sterling especially vs euro. Cable later hit one-month low at 1.1793 in New York morning before moving narrowly.  
  
More news from Reuters.d British households are feeling "a sense of exasperation" about the surging cost of living which has pushed consumer sentiment to its lowest since at least 1974, according to the country's longest-running survey of household finances.    
The GfK consumer sentiment index sank to a record-low -44 in August from July's reading of -41, which was already the lowest since the survey began. Economists polled by Reuters had forecast a drop to -42.  
  
Data to be released this week :  
  
U.S. national activity index and Canada new housing price index on Monday.  
  
Australia manufacturing PMI, services PMI, Japan Jibun bank manufacturing PMI, Jibun bank services PMI, France S n P manufacturing PMI, S n P global services PMI, Germany S n P manufacturing PMI, S n P global services PMI, EU S n P manufacturing PMI, S n P global services PMI, consumer confidence, U.K. S n P manufacturing PMI, S n P global services PMI, U.S. building permits, redbook, S n P manufacturing PMI, S n P global services PMI, new home sales, and Richmond Fed manufacturing on Tuesday.  
  
U.S. MBA mortgage application, durable goods, durables ex-transport, durables ex-defense and pending home sales on Wednesday.  
  
New Zealand retail sales, Germany GDP, Ifo business climate, Ifo current conditions, Ifo expectations, France business climate, U.K. CBI distributive trades, U.S. GDP, PCE prices, initial jobless claims, continuing jobless claims and KC Fed manufacturing on Thursday.  
  
Japan Tokyo CPI, Germany Gfk consumer confidence, France consumer confidence, Italy business confidence, consumer confidence, U.S. personal spending, personal income, PCE prices index, goods trade balance wholesale inventories, University of Michigan sentiment and Canada budget balance on Friday.