The dollar climbed to 120 yen for the first time in a week after a jump in U.S. sales of previously owned homes backed speculation that the Federal Reserve will raise interest rates this year.
The greenback held a three-day advance against the euro before finance ministers from the currency bloc meet in Riga, Latvia, on Friday to persuade Greece to commit to economic reforms so that aid payments can be released before the country runs out of money. The European Central Bank almost doubled an increase in emergency funding to Greek banks ahead of the talks.
The U.S. currency touched 120 yen, before trading at 119.94 as of 8:47 a.m. in Tokyo from 119.91 on Wednesday. It was little changed at $1.0724 per euro, having gained 0.8 percent over the past three trading sessions.
The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, was at 1,192.55 from 1,191.90 Wednesday.
Source : Bloomberg