The dollar climbed to a
three-month high versus the yen after Federal Reserve Bank of Dallas
President Richard Fisher warned a delay in raising U.S. interest rates
risks recession.
The greenback gained
against all its major peers after Fisher, in his last speech at the helm
of the Dallas Fed, said policy makers are better off tightening earlier
and more gradually than later and more quickly.
The dollar gained 0.3
percent to 121.47 yen at 8:51 a.m. in Tokyo, after earlier touching
121.62, the strongest since Dec. 8. It added 0.1 percent to $1.0837 per
euro, approaching the 11-year high of $1.0823 set Monday.
Source : Bloomberg
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