A
gauge of the dollar approached a 10-year high on speculation the U.S.
is moving toward raising interest rates as policy makers in Europe and
Japan meet to discuss further measures to bolster their stagnant
economies.
The
U.S. currency climbed for a third day versus the yen as the Japanese
central bank considers expanded monetary easing at a policy meeting
ending tomorrow. The euro was at almost the lowest level in 11 years
before the European Central Bank meets this week amid bets it will
announce sovereign-bond buying under quantitative easing. The
International Monetary Fund cut growth forecasts almost everywhere
except the U.S. Canada™s dollar plunged to an almost six-year low. The
Swiss franc gained.
The
Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10
major peers, climbed 0.5 percent to 1,145.74 as of 2:15 p.m. New York
time. It closed at 1,147.54 on Jan. 8, the highest in data going back to
2004.
The
dollar appreciated 1 percent to 118.80 yen. It climbed 0.5 percent to
$1.1549 per euro after rising to $1.1460 on Jan. 16, the strongest level
since November 2003. The shared currency gained 0.6 percent to 137.21
yen.
Source: Bloomberg
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