Dollar hits 2-month high in 135 yen zone on solid U.S. wholesale data

The U.S. dollar briefly topped the 135 yen line Friday, hitting a two-month high as stronger-than-expected U.S. economic data fueled expectations that the Federal Reserve will continue hiking interest rates to tackle inflation.The U.S. producer price index for January released overnight rose 0.7 percent from the previous month, the biggest increase since June, exceeding the market forecast of a 0.4 percent increase.Also adding to the yen-selling and dollar-buying pressure was the policy stance of Kazuo Ueda, the government's nominee for the next Bank of Japan governor, who has indicated tha…READ FULL ARTICLE