Dollar holds near one-month high as yen approaches 160

The dollar held near a one-month high against major currencies on Thursday, driven by expectations of further Federal Reserve rate hikes, while the yen edged toward the 160-per-dollar level. Stronger-than-expected October inflation data and hawkish remarks from Fed officials have boosted bets on additional tightening, with Goldman Sachs predicting another hike early next year. New York Fed President John Williams' upcoming remarks are being closely watched for guidance. The yen remained pressured by wide interest-rate differentials, though a Bank of Japan board member's speech later Thursday could signal policy divergence. Japanese wholesale prices rose 7.1% year-on-year in October, up from 6.8% in September.