NEW YORK, Feb 13 — The dollar turned higher today, hitting 150 against the yen for the first time since November, after data showed US inflation rose more than expected in January, reinforcing expectations that the Federal Reserve will hold interest rates in March.

The Consumer Price Index (CPI) rose 0.3 per cent on a monthly basis in January, above the 0.2 per cent increase expected by economists polled by Reuters. On a year-on-year basis, it gained 3.1 per cent versus the 2.9 per cent estimated growth.

The greenback surged to ¥150.34 (RM4.77), the highest since November. It was last up 0.6 per cent at 150.305 yen.

The dollar index turned positive after the data, and was last up 0.4 per cent at 104.59. — Reuters