Dollar climbs further as Fed hike talk builds
The dollar extended gains in Asian trade Tuesday as investors swung their attention to expectations of another US interest rate hike next month, but equities struggled under the weight of profit-taking following the previous day's rally.
Regional markets surged Monday, with Tokyo and Seoul leading the way, following centrist Emmanuel Macron's victory in France's presidential election and last week's solid US jobs report that reinforced views of a strengthening economy.
The better-than-expected reading on US payrolls preceded a record close on Wall Street and helped send Wall Street's VIX index of volatility in New York's markets to its lowest level since 1993.
It also had investors betting the Federal Reserve will stick to its plan to raise borrowing costs twice more this year -- including once next month -- having lifted rates in December and March.