Dollar Rises to 6-Year High versus Yen on Fed Policy Bets

The dollar rose to the strongest in almost six years versus the yen as Treasury yields climbed on speculation economic reports this week will back the case for the Federal Reserve to boost interest rates next year.

A gauge of the greenback advanced to a 14-month high before U.S. data forecast to show jobless claims fell and retail sales improved. Fed policy makers next meet Sept. 16-17. The pound fell for a sixth day, extending yesterday’s biggest slide in 14 months, before Scotland votes on independence next week. China’s yuan climbed to a six-month high as the central bank raised its fixing by the most in almost four years.

The dollar rose 0.2 percent to 106.23 yen in London after appreciating to 106.34, the highest since October 2008. The U.S. currency gained 0.1 percent to $1.2883 per euro, after reaching $1.2867, the strongest since July 2013. The euro was little changed at 136.87 yen.