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Dollar touches 7yr high vs yen on robust US jobs data

Dollar touches 7yr high vs yen on robust US jobs data

LONDON: The dollar set a fresh seven-year high against the yen on Monday after unexpectedly robust US jobs data reinforce the sight that the Federal Reserve could raise interest rates faster than expected.
The dollar make a new seven year high vs yen on Monday after
The surge in payrolls by 321,000 in November easily blew past Wall Street’s expectations and served to further highlight the divergence in economic outlook between the United States and most of the developed world.
Short-term Treasury yields rose after the strong U.S. jobs data, widening the premium paid by U.S. two-year paper to around 67 basis points over comparable German bonds, the widest in more than seven years.
The yield gap between two-year U.S. Treasuries and two-year Japanese government bonds expanded to around 66 basis points, the widest yield advantage for the dollar since mid-2010.