The dollar rose as the prospect of an end to Greece’s turmoil prompted investors to shift focus to testimony this week from Federal Reserve Chair Janet Yellen as she prepares to raise interest rates later this year.
The greenback strengthened against all 10 of its developed major peers, while a gauge of the dollar remained higher after closing at the strongest in more than a month on Monday as Greece reached an agreement with its creditors. The U.S. currency was set to gain for a fourth day against the yen as the Bank of Japan begins a two-day policy meeting on Tuesday which is likely to emphasize the divergence between the two economies.
The Bloomberg Dollar Spot Index, which tracks the U.S. currency against its 10 major peers, gained 0.1 percent to 1,197.74 at 9:13 a.m. in Tokyo from 1,196.51 in New York, the highest close since June 1. The greenback advanced 0.1 percent to 123.59 yen. The euro slid 0.2 percent to $1.0984 after tumbling 1.4 percent on Monday.
The dollar has surged 21 percent in the past year, the best performance among the 10-developed-nation currencies tracked by Bloomberg Correlation-Weighed Currency Indices. The euro fell 4.6 percent.
Source : Bloomberg