The dollar scaled a 10-week high against the yen on Friday, thanks to a surge in...
TOKYO - The dollar scaled a 10-week high against the yen on Friday, thanks to a surge in Treasury yields after U.S. gross domestic product data topped expectations.
The overnight wobbles in the U.S. currency came as the euro rallied on growing expectations that the European economy may have turned a corner. “The strong response to the U.S. GDP data shows that the market is currently focussed on fundamentals, rather than geopolitical factors.” “Even as the Fed’s policy normalisation process slows down, the dollar looks to be supported as long as the European and Japanese central banks are stuck with current policies.”
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