Dollar Gains Versus Yen as Economists Say Job Growth Quickened

The dollar rose for the first time in three days against the yen before a government report that economists say will show U.S. employers added the most jobs in three months, backing the case for higher interest rates.

The Bloomberg Dollar Spot Index was little changed after last week completing the longest series of gains in almost two years as traders weigh whether recent advances have been too rapid amid a drop in U.S. Treasury yields. The euro climbed yesterday as the European Central Bank failed to provide details on the size of a plan to buy private debt. The yen was set for its first weekly gain in two months as Japanese policy makers expressed concern a weak currency is hurting some companies.

The dollar rose 0.2 percent to 108.66 yen at 9:25 a.m. in Tokyo after falling 1.1 percent in the past two sessions. It reached 110.09 on Oct. 1, the highest since August 2008.

The Bloomberg Dollar Spot Index was little changed at 1,068.03 after falling 0.3 percent yesterday in its biggest decline since Sept. 16. It climbed for six weeks to Sept. 26, the longest stretch since November 2012.

The euro was little changed at $ 1.2663 after rising 0.4 percent to $ 1.2669 yesterday. It touched $ 1.2571 on Sept. 30, the lowest level since September 2012.

Source: Bloomberg

Sumber : BPFNews.Com