FOREX-Dollar hits 10-week high vs yen as yields draws investors [Reuters]
The Bank of New York Mellon Corporation (BK)
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Source: Reuters
Dollar hits 10-week high vs yen as yields draws investors | Reuters 3 Min Read LONDON (Reuters) - The dollar edged higher on Friday, reaching a 10-week high against the yen, as investors searching for higher yields flocked to U.S. Treasuries. The euro was little changed after data showed underlying inflation in the euro zone remained subdued. The dollar was supported by data on Thursday showing U.S. gross domestic product had grown an annual 2.6 percent in the fourth quarter, exceeding forecasts for a 2.3 percent gain. Benchmark 10-year U.S. Treasury yields have risen about 7 basis points this week. The yield surged to 2.731 percent on Thursday, its highest since Feb. 6. “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 of the dollar’s rise, losing as much as half a percent to 111.98 yen, a 10-week low. The Japanese currency, along with fellow safe-haven cur
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