The dollar gained against the yen on Wednesday, with North Korea’s latest missile launch having little immediate impact on currency markets.
The dollar gained against the yen on Wednesday, lifted by strong U. S. economic data while North Korea’s latest missile launch had little immediate impact on currency markets though investors are focused on how the U. S. responds to the test.
The greenback was 0.15 percent higher at 111.620 yen, adding to gains from the previous day when it rose 0.35 percent.
“The dollar drew broad bids on strong consumer confidence data, Treasury yields holding firm and relief that the tax bill was passed by the Senate Budget Committee,” said Shin Kadota, senior strategist at Barclays in Tokyo.
Data on Tuesday showed U. S consumer confidence surged to a near 17-year high in November, driven by a robust labor market.
U. S. Senate Republicans pushed forward President Donald Trump’s tax cut bill on Tuesday that set up a full vote by the Senate as soon as Thursday, although some details of the measure remained unsettled.
