Dollar at 8-week high vs yen as traders eye Fed

London

THE dollar hit an eight-week high against the yen on Monday, supported by a rise in US Treasury yields, as traders eyed a Federal Reserve meeting starting the next day for clues on whether interest rates could rise again by year-end.

Last week was the greenback's best against the Japanese currency since November, up 2.8 per cent, as a rise in US yields bolstered its appeal and data showing a pickup in US consumer prices helped rekindle expectations that the Fed could hike rates again in December.