Reuters: US Dollar Report: FOREX-Dollar hits near 3-wk high vs yen, higher U.S. yields support

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Refresh your vocabulary. Learn a new word everyday by subscribing to Word of the Day. A great tool if you're studying for the GRE, GMAT or LSAT, or simply want to enhance your lexicon. From our sponsors

FOREX-Dollar hits near 3-wk high vs yen, higher U.S. yields support Aug 23rd 2013, 06:03 Fri Aug 23, 2013 2:03am EDT * Dollar hits highest vs yen since early August * This week's rise in U.S. yields seen as supporting dlr * Japanese share moves also in focus By Masayuki Kitano and Dominic Lau SINGAPORE/TOKYO, Aug 23 (Reuters) - The dollar touched a near three-week high versus the yen on Friday, supported by this week's rise in U.S. bond yields and as Tokyo shares rose after business surveys suggested the global economy was improving. The dollar advanced 0.2 percent to about 98.89 yen. Earlier, it rose to 99.12 yen on trading platform EBS, the dollar's highest level since Aug. 5. The dollar was hovering near resistance right around 99.00 yen, the 100-day moving average, and the focal point was whether it could make a clear break above that hurdle. "Dollar/yen should continue to resolve topside as U.S. Treasury yields move gradually higher," said Jeffrey Halley, FX trader for Saxo Capital Markets in Singapore. The dollar stayed firm against the Japanese currency after gaining 1 percent versus the yen on Thursday, drawing some strength from the recent rise in U.S. Treasury yields. The U.S. 10-year Treasury yield last stood near 2.892 percent, having set a two-year high of 2.936 percent on Thursday. The recent rise in U.S. bond yields, driven by expectations the Federal Reserve may start to unwind its stimulus as early as next month, increases the attractiveness of dollar-denominated assets. Treasury yields got a further push higher this week after minutes of the Fed's July meeting out on Wednesday did little to change market expectations of the Fed's tapering timetable. Market players were also keeping an eye on moves in Japanese shares, since the yen has moved in opposite direction to the benchmark Nikkei share average this year. The Nikkei rose 1.9 percent after business surveys on Thursday suggested the world economy was on the mend, with U.S. and Chinese manufacturing activity at multi-month highs and business activity in the euro zone picking up more than expected. The euro touched a one-month high against the yen at 132.34 yen and last stood near 131.94 yen, up 0.1 percent from late U.S. trade on Thursday. Against the dollar, the euro eased 0.1 percent to $1.3341 , but remained above Thursday's intraday low near $1.3299. The euro had set a six-month high of $1.3453 earlier this week, supported by the recent improvement in euro zone economic data. Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions