The US dollar reached a six-month high against the yen as several Fed officials suggested that monetary policy may need further tightening. Minneapolis Fed President Neel Kashkari said the US rate may need to be 6% for inflation to achieve the 2% target, while the St. Louis Fed President James Bullard said the bank may need to increase it half a point this year. Meanwhile, the debt ceiling deadline prompted concern over the situation and boosted the US dollar’s safe-haven status.
Concurrent Gainers: 7 stocks that gained for 5 days in a row
In the five trading sessions prior to March 7, the Sensex rose by around 1.5%, or 1,134 points, closing at 74,333. The market ended on
March 8, 2025