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Dollar recovers, hits 10-week high vs yen, as bigger yields lure investors [Reuters]

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: Reuters
Dollar recovers, hits 10-week high vs. yen, as bigger yields lure investors | Reuters 3 Min Read LONDON (Reuters) - 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. The U.S. currency managed to claw back earlier losses after data showed U.S. gross domestic product increased at a 2.6 percent annualized rate in the fourth quarter, above economists’ forecasts for a 2.3 percent gain. With U.S. interest rates higher than in other developed economies, investors have been turning to the dollar for yield. “What’s the dollar rebound on? Is it sentiment or yield? The answer is it’s just about yield,” said Simon Derrick, currencies analyst at BNY Mellon. The yen was the main casualty from the dollar’s rise, losing half a percent to 111.89 yen, a 10-week low. The yen, along with fellow safe-haven currency Swiss franc, had been supported earlier in the week when tensions between Indi Show less Read more
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