Dollar gains on rate hike expectations, yen retreats past 160

Sept 1 : The dollar strengthened on Tuesday as renewed Gulf attacks sparked a global bond selloff and stoked inflation worries, while the yen slid past 160 per dollar again even as pressure mounted on the Bank of Japan to raise rates.U.S. President Donald Trump threatened further strikes against Iran after the first exchange of direct attacks in a month, pushing Brent crude futures above $91 a barrel, fuelling inflation worries and spurring a bond selloff.The yield on 10-year Treasury notes hit its highest since January 2025 while the 10-year Japanese government bond yield touched 3 per cent for the first time in 30 years. [O/R][US/] U.S. Treasury Secretary Scott Bessent said he believed Japan's government and central bank would take action that leads to a stronger yen. While the BOJ was a