The dollar rose
to a two-week high versus the yen on Monday, with the market breathing a
sigh of relief as the closely watched two-day U.S.-Japan summit held
over the weekend was seen to have ended smoothly.
U.S.
President Donald Trump and Japanese Prime Minister Shinzo Abe appeared
to have established a quick friendship through a hug, a prolonged
handshake and rounds of golf, allaying investor fears of the meeting
ending acrimoniously with Trump talking tough on trade, currency and
security issues.
The dollar index against a basket of major currencies was up 0.15 percent at 100.930 .DXY, close to a near two-week high of 101.010 reached on Friday when pledges of "phenomenal" tax reforms by Trump had boosted the greenback.
The dollar was up 0.65 percent at 113.920 yen JPY=, briefly touching 114.170, the highest since Jan. 30.
The president's comments increased risk appetite, sending Wall Street shares to record highs on Friday, in turn lifting U.S. Treasury yields from multi-week lows to the dollar's advantage.
The market's near-term focus was on Federal Reserve Chair Janet Yellen's congressional testimony scheduled for Tuesday and Wednesday. Investors are keen to gauge Yellen's policy stance after the central bank upgraded its inflation views earlier this month.
U.S. indicators being awaited for their potential market impact included the January producer price index (PPI) on Tuesday, the January consumer price index (CPI) and retail sales on Wednesday and housing-related data on Thursday.
The dollar index against a basket of major currencies was up 0.15 percent at 100.930 .DXY, close to a near two-week high of 101.010 reached on Friday when pledges of "phenomenal" tax reforms by Trump had boosted the greenback.
The dollar was up 0.65 percent at 113.920 yen JPY=, briefly touching 114.170, the highest since Jan. 30.
The president's comments increased risk appetite, sending Wall Street shares to record highs on Friday, in turn lifting U.S. Treasury yields from multi-week lows to the dollar's advantage.
The market's near-term focus was on Federal Reserve Chair Janet Yellen's congressional testimony scheduled for Tuesday and Wednesday. Investors are keen to gauge Yellen's policy stance after the central bank upgraded its inflation views earlier this month.
U.S. indicators being awaited for their potential market impact included the January producer price index (PPI) on Tuesday, the January consumer price index (CPI) and retail sales on Wednesday and housing-related data on Thursday.
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