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Dollar shines as US economy outperforms, yen plumbs 10-month low

September 6, 2023

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A buoyant dollar pushed the yen to a 10-month trough on Thursday and kept the euro and sterling pinned near three-month lows, as investors placed their faith in a still-resilient U.S. economy even amid a dour global growth outlook.

The greenback scaled a fresh top of 147.865 yen in early Asia trade, its highest since last November.

Against a basket of currencies, the dollar was last 0.05% higher at 104.91, holding on to some of its gains from the previous session after scaling a six-month peak on news that the U.S. services sector unexpectedly gained steam in August.

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