Global News & Trade Ideas

Market Update: Dollar Rises to Touch 108 Versus Yen for First Time Since July

The dollar rose to an eight-month high against the yen amid broad strength in the greenback and rising U.S. Treasury yields.

The dollar touched 108 versus the yen at about 7:51 a.m. in Tokyo.

The dollar-yen pair has been buoyant since the start of the year, gaining about 4.6% as investors position for economic growth and reflation in the U.S.

Advances in U.S. bond yields also tend to attract demand from Japanese investors, which adds to downward pressure on the yen and dollar purchases.