Dollar advances ahead of inflation data; cryptos crumble over FTX deal

SINGAPORE (Reuters) – The dollar regained its footing on Thursday ahead of key U.S. inflation data due later in the day, while cryptocurrencies were fragile after a bailout deal for exchange FTX by its bigger rival Binance collapsed.

The greenback surged overnight against its peers and held to those gains in early Asia trade, pushing the Japanese yen away from a roughly two-week high hit in the previous session. The yen last bought 146.28 per dollar.

The euro hobbled just above parity at $1.0016, some distance from its near-two-month high hit earlier in the week. Sterling last stood at $1.1360, after sliding 1.6% overnight.