Things seem to be heading up for the US . . . but will it last?
The dollar rose to an 11-month high against the yen before U.S. data today forecast to show regional manufacturing expanded and initial jobless claims decreased, adding to signs the American economy is gathering momentum.
The greenback was near the highest level in four weeks against the euro amid reduced bets the Federal Reserve will begin a third round of bond purchases, or quantitative easing, which could debase the world’s reserve currency. The yen declined against most its major counterparts as Asian stocks advanced for a third day, curbing demand for the lower-yielding Japanese currency.