Dollar edges higher as U.S. data lends support; yen holds gains
“The dollar is gaining as this morning’s stronger-than-forecast data lifts rate expectations for the new year,” said Karl Schamotta, chief market strategist at business payments company Corpay.
Karthik Sankaran, senior FX wizard at Corpay, points out the biggest burdens dragging down the yen are starting to lighten: the pace of Fed rate increases, which lure capital out of Japan, and the global energy shock hurting its trade balance.
