Dollar hits three-week high

Dhaka,  Thu,  24 August 2017
Published : 20 Jun 2017, 11:21:50 | Updated : 20 Jun 2017, 11:29:46
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Dollar hits three-week high against yen

Dollar hits three-week high
The dollar hit a three-week high against the yen on Tuesday, after an influential Federal Reserve official said US inflation should rise alongside wages.

The dollar rose to 111.775 yen JPY= at one point, reaching its strongest level since May 26. That marked a gain of about 2.7 per cent from the dollar's near 2-month low of 108.81 yen set last Wednesday.

The greenback last stood at 111.685 yen, up 0.2 per cent on the day.

The dollar is now near some key technical resistance levels, including its May 24 intraday high of 112.13 yen, said Teppei Ino, analyst for Bank of Tokyo-Mitsubishi UFJ in Singapore.

Against a basket of six major currencies, the dollar rose to as high as 97.609 at one point on Tuesday, its highest level since May 30.

The euro held steady at $1.1145 EUR=, having retreated from a 7-month peak of $1.1296 set on June 14, reports Reuters.
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