US$ rises for seventh day vs yen on rates outlook

Tokyo

THE US dollar rose for a seventh day on Monday against the yen, the longest winning streak since October, before US economic data this week that may add to speculation the economy is strong enough to handle higher interest rates.

A gauge of the greenback jumped 1.3 per cent last week after some Federal Reserve officials said they would consider raising rates at the next meeting in April. The yen weakened versus all of its 16 major peers on Monday as gains in Japanese shares and US stock futures reduced demand for haven assets.