The dollar finished just below a two-month high against the yen Wednesday after a gauge of service-sector growth from the Institute for Supply Management rose to its highest level in 10 years.The dollar USDJPY, -0.10% broke above ¥125 for the first time since early June, and finished the day at ¥124.83. It traded at ¥124.30 late Tuesday in New York. Meanwhile, the euro EURUSD, -0.0092% finished 0.1% higher at from $1.0905 late Tuesday in New York.
The ICE U.S. Dollar Index DXY, -0.07% a measure of the dollar’s strength against a basket of six rival currencies, finished the day at 97.9120, little-changed from its late Tuesday level.
Though both currencies trimmed earlier gains against the buck after the ISM report, the British pound GBPUSD, +0.1025% and Canadian dollar CADUSD, +0.0835% continued to outperform other major industrialized currencies versus the dollar. Colin Cieszynski, chief markets strategist at CMC Markets, attributed the pound’s gains to investor optimism ahead of a meeting of the Bank of England Thursday.
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