Dollar Cements Gain Above 120 Yen Before Jobs Data as Euro Slips
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The dollar rose to a seven-year high against the yen, extending its winning streak to a seventh week, as economists predicted data today will show quicker U.S. jobs growth, contrasting with economic struggles in Japan and Europe.
The U.S. currency has added at least 3.9 percent versus all of its 16 major peers in the past three months as traders gain confidence that the Federal Reserve will boost interest rates next year. The euro approached a two-year low amid speculation the European Central Bank was preparing a broad-based asset-purchase plan. Malaysia’s ringgit and Norway’s krone slid to five-year lows as a slump in crude oil damped the economic outlook for the nations.