Dollar jumps to five-year high versus yen; rupee slides 30 paise

The dollar index rose 0.009 per cent, with the euro up 0.03 per cent to $1.1297

The US dollar rose for a fifth straight day against the Japanese yen on Tuesday to hit a five-year high as investors anticipated the Omicron variant would not derail the global economy or delay the Federal Reserve's expected rate hikes. In India, the rupee weakended 30 paise to close at 74.58 against the dollar, snapping its three-session rising streak, amid elevated crude oil prices and a strong greenback overseas.

A rise in US treasury yields on expectations for a Fed rate hike this year have supported the greenback, with those foreseeing at least a 25 basis point hike at the March