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 dollar rose against the yen, extending its biggest weekly advance this year, amid speculation the Federal Reserve will keep cutting stimulus while the Bank of Japan maintains its bond-purchase plan.
The pound dropped to a three-week low against the dollar after a U.S. central bank report showed a measure of manufacturing accelerated at the fastest pace in a year, luring investors away from Britain’s currency.
The dollar rose to the strongest since August 2009 against the yen before a U.S. report that analysts said will show employers stepped up hiring last month, adding to signs the world’s biggest economy is gaining momentum.
Ernst & Young LLP, in its role as former auditors for Lehman Brothers Holdings Inc. , was sued for civil fraud yesterday by New York Attorney General Andrew Cuomo, who becomes the state’s governor Jan. 1.
The euro strengthened for a second day against the dollar after an industry report showed German business confidence unexpectedly increased in May, adding to optimism the region’s biggest economy is improving.