The dollar moved higher on Friday, hitting a 10-week high against the yen, as a ...
LONDON - The dollar moved higher on Friday, hitting a 10-week high against the yen, as a jump in U.S. Treasury rates sent investors seeking higher yields into the greenback.
With U.S. interest rates higher than in other developed economies, investors have been turning to the dollar for yield. The yen, along with fellow safe-haven currency Swiss franc, had been supported earlier in the week when tensions between India and Pakistan and the collapse of U.S.-North Korea talks rattled markets.It was a quiet end to the week elsewhere, with most major currencies stuck in tight trading ranges.
“Even as the Fed’s policy normalization 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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