The dollar hovered near a 10-week high against the yen on Friday, thanks to a surge in Treasury yields after U.S. gross domestic product data topped expectations.
U.S dollar was slightly higher at 111.445 yen and within striking distance of 111.495. It’s since Dec. 20 brushed overnight.
The dollar index against a basket of six major currencies stood at 96.222 after grinding out a 0.15 percent gain on Thursday, when it pulled back from a three-week trough of 95.824.
“The dollar received a clean break as Treasury yields rose in earnest following the robust U.S. GDP data,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.
“The strong response to the U.S. GDP data shows that the market is currently focused on fundamentals, rather than geopolitical factors.”
The euro remained steady at $1.1369, having slip from a three-week highs of $1.1420 scaled the previous day.
The Australian dollar was up 0.1 percent to $0.7099, trimming some of the previous day’s sharp losses.
The benchmark 10-year U.S. Treasury yield was traded at 2.720 percent after being up to 2.731 percent on Thursday, its highest since Feb. 6.
