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.
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As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article