Greenback ascends against yen on strong American indicators

fed_fomc_1On Wednesday, the evergreen buck rallied against the Japanese yen, following upbeat American economic data, which reinforced hopes for economic growth under Donald Trump’s Administration and more rate lifts by the Fed in 2017.

The greenback leapt 0.2% against the Japanese yen to 117.67, adding to its revenues of almost 0.5% on Tuesday in the wake of data, demonstrating that American consumer confidence hit a 15-year high in December.

The greenback jumped as high as 118.66 yen on December 15, its highest value since February.

The Conference Board told that its US Consumer Confidence Index tacked on to 113.7, the highest outcome since August 2001, as hopes for strength in job growth, business conditions as well as the stock market kept building, following Donald Trump’s election to president.

American house prices also continued their steady revival in October, though a spike in borrowing costs could offer a headwind to sustained home value revenues, as rates grew after the election.

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