In the course of today’s trading, the U.S. dollar is growing in value against the Japanese yen and getting cheaper against the euro. Investors are evaluating the comments of the Fed representatives after the release of data on inflation in the United States, which has reached a multi-year high.

On the eve, the member of the Board of Governors of the Federal Reserve System (Fed) Lail Brainard in an interview for The Wall Street Journal said that the decrease in some indicators of inflation in the U.S. in March is a positive signal, but overall inflation is still too high. Lowering inflation is the Fed’s most important task, Brainard emphasized.

The overall inflation rate (CPI) jumped to 8.5% in March from 7.9% in February, hitting its highest level since December 1981. Meanwhile, consumer prices excluding food and energy costs (Core CPI) rose 0.3% last month from February, the slowest pace in six months, after rising 0.5% a month earlier.

“There seems to be no alternative to future Fed policy tightening”, IG Iep analyst Jean Rong commented on Brainard’s remarks.

The ICE-calculated index, which shows the dollar’s performance against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona), is up 0.02%, while the broader WSJ Dollar Index is down 0.01%.

As of 8:59 Moscow time as of 8:59 a.m., the euro was fetching $1.0843, up from $1.0828 at the close of the previous session.

The pound sterling at the same time rose to $1.3013 compared to $1.3001 the day before.

The dollar exchange rate paired with the Japanese national currency amounted to 125.60 yen by 8:59 Moscow time against 125.38 yen at the end of previous trading.