Economics
Dollar Gains Most in Seven Weeks Versus Yen Before U.S. Job Data
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The dollar strengthened the most in seven weeks against the yen on speculation improving U.S. employment data will encourage policy makers to bring an early end to asset purchases.
The U.S. currency strengthened through $1.30 per euro for the first time in three weeks after Federal Reserve minutes showed policy makers may end their $85 billion monthly bond purchases this year, halting a program that tends to debase the greenback. The yen dropped beyond 88 per dollar for the first time since July 2010 amid speculation the Bank of Japan will boost money supply to end deflation. Australia’s dollar fell for a second day after a gauge of the nation’s services declined.