Dollar rallies 1 percent versus yen, hits session peak
NEW YORK Feb 1 (Reuters) - The dollar extended its rally against the yen to 1 percent in late morning trade on Friday as Treasury yields rebounded from lows on upbeat U.S. economic data.
The dollar rose as high as 92.64 yen on Reuters data, still a 2-1/2 year high. It was last at 92.55 yen, up 0.9 percent on the day.
Gains in dollar/yen accelerated after U.S. data showed the pace of growth in the manufacturing sector picked up in January to its highest level in nine months, while consumer sentiment unexpectedly improved in January.
- Tweet this
- Share this
- Digg this
The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreement that could add $1 trillion to the global economy. Full Article