Dollar Gains to 4-Week High as Economy Expands, Claims Decline

The dollar rose to the highest level in four weeks as reports showed U.S. economic growth accelerated and jobless claims declined, backing the case for the Federal Reserve to reduce stimulus as soon as next month.

The U.S. currency advanced for a second day versus the yen as benchmark Treasury yields climbed toward a two-year high, bolstering the attraction of the dollar. India’s rupee jumped more than 3 percent after the central bank said it will sell dollars to the nation’s biggest oil importers to cool demand for foreign exchange. The euro fell against the majority of its 16 most-traded counterparts.