US dollar/yen rises to 2-1/2-week high after US Senate approves tax cuts

[TOKYO] The US dollar rose to a 2-1/2-week high against the yen and also advanced versus other currencies on Monday, boosted after the US Senate approved a tax overhaul on Saturday.

The Senate's approval moves Republicans and President Donald Trump a big step closer to their goal of slashing taxes in what would be the largest change to US tax laws since the 1980s.

The US dollar was 0.4 per cent higher at 112.770 yen after rising to 112.985, its highest since Nov 17.

The US dollar index against a basket of six major currencies was 0.2 per cent higher at 93.051.

REUTERS