japanese yen and us dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken june 16 2022 reutersflorence loillustrationfile photofile photo tokyo sept 8 reuters  the dollar resumed its rise in asia on thursday after falling back from a twodecade high overnight as investors pondered the path of global monetary policy ahead of a european central bank rate decision and comments from federal reserve chair jerome powell later in the day the us dollar index  which measures the currency against six major peers added 01 to 10980 edging back toward wednesdays peak at 11079 a level not seen since june 2002 the greenback gained 018 to 14409 yen  after reaching a 24year high of 14499 in the previous session the euro slipped 021 to 09987 after plumbing a 20year low of 09864 earlier in the week the ecb is widely expected to also raise rates by 75 basis points bps later on thursday 1215 gmt to fight runaway inflation although europes energy crisis has kept the euro under pressure read more sterling weakened 023 to 11509 heading back toward the days 37year low of 11407 powell will participate in a discussion at a cato institute conference with fed officials soon to enter into a blackout period prior to the us central banks sept 2021 meeting recent rhetoric has continued to be hawkish overall with boston fed president susan collins saying overnight that bringing inflation back down to 2 is the feds job one while fed vice chair lael brainard commented that tight monetary policy will continue for as long as it takes to get inflation down read more money markets lay 79 odds that the fed will hike by another 75 basis points at this months meeting which would increase the fed funds rate to 30 to 325 dollar domination may have one last major rally in it before the market can start placing some longterm bets with some of the european currencies now that the global energy crisis a widening interest rate differential and fears of a severe european recession are close to getting fully priced in edward moya a senior markets analyst at oanda wrote in a note the upcoming ecb rate decision will be a makeorbreak moment in fx that will either trigger a bounce towards parity or provide a clear passage towards 09750