LONDON/SINGAPORE—The dollar edged higher on Friday after dropping the previous day despite U.S. inflation accelerating, helping it hit a 32-year peak against Japan’s yen.
Sterling slipped after a sharp rally on Thursday, as reports said British Prime Minister Liz Truss was preparing to sack her finance minister and carry out a major U-turn on the government’s tax plans.
The dollar index was last up 0.35 percent to 112.97, having fallen 0.6 percent on Thursday as investors seemingly brushed off data that showed U.S. consumer prices increased more than expected in September.
The greenback has been on a tear this year as the Federal Reserve has ramped up interest rates in an effort to tame inflation, pulling money back towards the United States. Fears about the global economy have also boosted the safe haven asset….