Dollar Edges Higher, Pushing Yen to New 32-year Low

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound, and Chinese 100 yuan banknotes are seen in this picture illustration on Jan. 21, 2016. Jason Lee/Illustration/Reuters

LONDON/SINGAPORE—The dollar edged higher on Friday after dropping the previous day despite U.S. inflation accelerating, helping it hit a 32-year peak against Japan’s yen.

Sterling slipped after a sharp rally on Thursday, as reports said British Prime Minister Liz Truss was preparing to sack her finance minister and carry out a major U-turn on the government’s tax plans.