The dollar rose to its strongest level in seven years against the yen, boosted by signs of strength in the U.S. economy and midterm elections that saw Republicans take control of the Senate.
Japans currency fell versus most of its 31 major peers after Bank of Japan Governor Haruhiko Kuroda said he saw no limit to the steps officials can take to defeat deflation. The Bloomberg Dollar Spot Index headed for its highest close since April 2009 as a private report showed employers added more workers than forecast last month. Currencies of commodity-producing nations slumped as crude oil reached a four-year low.
The dollar jumped 1 percent to 114.70 yen as of 8:58 a.m. New York time, after rising to 114.84, the strongest level since November 2007. The U.S. currency appreciated 0.4 percent to $1.2494 per euro, while the yen slumped 0.5 percent to 143.28 per euro.
Bloombergs dollar index, which tracks the currency against 10 major peers, added 0.5 percent to 1,091.30, extending this years advance to 7.1 percent, the most since 2008.
Source : Bloomberg