US$ hits 2-week high against yen

London

THE dollar hit a two-week high against the yen with another round of solid gains on Monday as investors focused again on the US reflation trade which dominated the aftermath of Donald Trump's election in November but has stalled this year.

All eyes are fixed on testimony by Federal Reserve chief Janet Yellen this week after signs that other policymakers at the US central bank are leaning towards more hikes in interest rates than the two currently priced in by markets.