The dollar rose to a one-month high versus the yen on Thursday as robustness in the U.S. jobs market backed the idea that the Federal Reserve does not need to rush to cut interest rates.
The dollar rose to a one-month high versus the yen on Thursday as robustness in the U.S. jobs market backed the idea that the Federal Reserve does not need to rush to cut interest rates.
The yen came under strong selling pressure on Wednesday after Japan's new prime minister said the country is not ready for additional rate hikes, following a meeting with the central bank governor.
The euro languished not far from a three-week trough reached in the previous session, after normally hawkish European Central Bank policymaker Isabel Schnabel took a dovish tone on inflation, cementing bets for a rate cut this month.
The safe-haven U.S. currency saw some additional demand on Wednesday after Iran launched a salvo of some 180 ballistic missiles into Israel, spurring a vow of retaliation and stoking worries of all-out war.
The dollar index , which measures the currency against the euro, yen and four other top rivals, ticked up to 101.70 as of 0023 GMT, a three-week high, extending a 0.45% climb from the previous session.
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