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The yen rose to the strongest against the dollar since Japan’s government intervened last month to weaken it as concern Europe’s spreading debt crisis will dent global growth spurred investors to seek haven assets.
The Japanese currency was poised to gain against all 16 major counterparts this week before Italy sells as much as 3 billion euros ($4.1 billion) of five-year bonds on Nov. 14, testing investor appetite for the nation’s debt.
The dollar strengthened against most peers for the period after U.S. Treasury Secretary Timothy F. Geithner said Europe remains the “central challenge” to growth.
EUR/USD: on Asian session the pair grows.
GBP/USD: on Asian session the pair decreased.
USD/JPY: on Asian session the pair continues falling.
On Friday US bond and forex markets closed for the Veterans' Day holiday - although equity markets are open. UK data is up at 0930GMT, with the release of third quarter construction output numbers and October producer price data. The limited US data is released at 1455GMT, with the release of the Nov Consumer Sentiment (UM) numbers. The Michigan Sentiment Index is expected to rise to a reading of 62.0 in early-November.
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