Bloomberg, (11/11) – The dollar held a
two-week gain versus the yen before Federal Reserve officials speak amid
signs the U.S. economy may be strong enough for the central bank to
taper monetary stimulus.The greenback remained higher after jobs
data last week topped economist forecasts, boosting Treasury yields.
Fed Bank of Minneapolis President Narayana Kocherlakota and Atlanta peer
Dennis Lockhart will speak tomorrow. The euro was near a 10-month low
against the pound ahead of data this week that may show factory output
declined in the currency bloc and after an unexpected rate reduction by
the European Central Bank.The dollar was at 98.99 yen as of 6:45
a.m. in London after climbing 1 percent to 99.05 on Nov. 8. It gained
1.7 percent over the past two weeks. The U.S. currency was little
changed at $1.3364 per euro. Europe’s 17-nation currency fell 0.1
percent to 132.30 yenKocherlakota is scheduled to speak
tomorrow on monetary policy and will take questions following his
address. He said Oct. 17 that officials must do “whatever it takes” to
push for a faster return to full employment while keeping inflation near
2 percent, including possibly providing more stimulus.Lockhart said Nov. 8 that the Fed will consider reducing its bond-buying program at next month’s policy meeting.U.S. employers added 204,000 workers in
October, compared with a Bloomberg News survey median for a 120,000
gain, a report last week showed.
