Dollar hits three-month peak vs yen after Abe party's win [Reuters]
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Source: Reuters
Dollar hits three-month peak vs. yen after Abe party's win | Reuters 3 Min Read NEW YORK (Reuters) - The dollar touched a three-month high against the yen on Monday, as investors bet the overwhelming election victory for Japan’s ruling party would mean a continuation of “Abenomics,” the ultra-easy policies that have kept downward pressure on the yen. The greenback traded close to a 2-1/2 week high against a basket of six major currencies .DXY. Traders have been speculating that the next head of the Federal Reserve could take a more hawkish stance on monetary policy. Renewed expectations of federal tax cuts have also supported the greenback and stoked a rise in U.S. bond yields, with two-year yields reaching a near nine-year peak at 1.589 percent US2YT=RR. “The common trait is higher U.S. yields. You have the whole Fed chair debate and the fiscal situation,” said Alan Ruskin, global co-head of FX strategy at Deutsche Bank in New York. U.S. President Donald Trump said on Monday he is “v
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