The dollar rose the most against the yen this year as the Bank of Japan maintained its monetary stimulus while Federal Reserve officials backed reductions to bond-buying even as winter weather slows U.S. economic growth.
The pound strengthened the most in almost two weeks against the dollar after a U.S. report showed employers added fewer jobs last month than analysts forecast, damping demand for the American currency.
The pound fell for a third day versus the dollar as Federal Reserve policy makers yesterday trimmed stimulus after Bank of England Governor Mark Carney repeated his pledge to keep U.K. interest rates low.
The Korean won and the Turkish lira may be among the strongest emerging-market currencies against the dollar in 2011, Bank of Tokyo-Mitsubishi UFJ Ltd. currency strategist Lee Hardman said in a report today.
The Canadian dollar strengthened for the first time in three weeks, rallying with the currencies of fellow commodity exporters as the foreign exchange market shrugged off a slump in the prices of raw materials.