The dollar touched the strongest in almost six years versus the yen as Treasury yields climbed on speculation U.S. economic reports this week will back the case for the Federal Reserve to boost interest rates next year.
U.S. stocks rose, with the Standard & Poor’s 500 Index trimming its a weekly decline, as optimism grew that the lawmakers would reach a deal to end the budget impasse and avoid a default on the federal debt.
U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a fifth straight day, as exports from China topped forecasts and corporate acquisitions fueled optimism in the world’s largest economy.
U.S. stocks fell, after the Standard & Poor’s 500 Index extended a record yesterday, after a Federal Reserve official said the central bank may slow the pace of stimulus as early as this summer amid disappointing economic reports.
Treasury 10-year note yields traded at almost a three-week low as Federal Reserve Chairman Ben S. Bernanke said inflation would remain in check as he renewed a pledge to sustain stimulus after the U.S. expansion gains strength.