The dollar hit a seven-year high against the yen before retreating somewhat, on a relatively subdued Veterans Day trading session.After breaking above the 116-yen level in morning trade — the highest point for the dollar/yen trade since Oct. 17, 2007 — the dollar drifted lower. It last traded USDJPY, -0.08% at ¥115.37 Tuesday afternoon, compared to ¥114.94 Monday.
The euro EURUSD, -0.08% traded at $1.2480 Tuesday afternoon, compared to ¥1.2425 late Monday. The ICE U.S. Dollar Index DXY, +0.09% , a measure of the dollar’s strength against a basket of six currencies, was down 0.35% at 87.4990.
The kiwi NZDUSD, +0.16% rose as high as 78.43 cents after the report, before retreating back to 78.03 cents. It traded at 77.52 cents late Monday.
The pound GBPUSD, -0.06% continued to inch higher against the dollar in Tuesday’s session, trading at $1.5920, compared to $1.5845 Monday, ahead of the U.K.’s quarterly inflation report, due at 5:30 a.m. Eastern.
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