Yen slips past 155 per dollar to more than 3month low
Euro hovers near oneyear low at 1.06105
Dollar index rises for the fourth straight session
U.S. CPI data due at 1330 GMT

Nov 13 Reuters The U.S. dollar scaled a fresh 612month peak against other major currencies on Wednesday and the Japanese yen fell to its lowest level since July, driven by socalled Trump trades ahead of key U.S. inflation data later in the day.

The dollar is reaping the benefits of Republican Donald Trump39;s victory in the U.S. presidential election last week, which sent the U.S. currency to its highest level since May 1 at 106.21 against a basket of currencies.

Investors are pricing in policies of lower taxes and new trade tariffs under the incoming administration, measures seen as inflationary which could prompt the Federal Reserve to curb the extent of its easing of interest rates.

Meanwhile, Republicans inched closer to gaining full control of Congress, which would give the presidentelect more power to advance his agenda.

There is still scope for more dollar gains, said Mitul Kotecha, head of FX EM macro strategy at Barclays.

The full magnitude of the threatened U.S. tariffs on global imports, the potential fiscal stimulus through tax cuts and deregulation, as well as data that points to U.S. economic strength continuing next year, are all supportive of the dollar, Kotecha said.

Focus on Wednesday will be on a fresh read on U.S. inflation, with the October Consumer Price Index CPI…