USD/JPY at 102.60 before U.S. Economic Data

The dollar held a seven-day gain against the yen, the longest winning streak since October 2012, before data forecast to show continuing improvement in the U.S. economy.

The Bloomberg U.S. Dollar Index held near the highest close in two weeks after the Conference Board’s index of leading indicators rose by the most in four months. Economists forecast manufacturing in the region covered by the Federal Reserve of Richmond expanded in April. The euro held a five-day advance versus its Japanese peer before a report which may show consumer confidence in the region held at a six-year high. Australia’s dollar rallied from a two-week low before the South Pacific nation’s consumer price data tomorrow.

“There’s been some dollar buying on the back of strong U.S. economic numbers,” said Yasuhiro Kaizaki, a vice president for global markets in New York at Sumitomo Mitsui Trust Bank Ltd. “We’re in a period where the market is paying close attention to U.S. macroeconomic factors. Data will be the focus this week.”

Bloomberg

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