Dollar at Six-Day High After U.S. Yields Jump; Yen Steadies

Light is cast on a U.S. one-hundred dollar bill next to a Japanese 10,000 yen note in this picture illustration shot on Feb. 28, 2013. Shohei Miyano/Illustration/Reuters

LONDON—The dollar hit a six-day high in early trading on Tuesday following a jump in U.S. Treasury yields, while the yen steadied after the Bank of Japan saying it would stick to its ultra-loose monetary policy caused the currency to slip versus the dollar.

The U.S. Federal Reserve meets next week. It is expected to raise rates in March, for the first time since the start of the coronavirus pandemic, and investors are pricing in four rate hikes in all during 2022.