NEW YORK, June 21 - The dollar edged higher against other major currencies on Friday, hitting a fresh eight-week high against the yen as data showed a strong U.S. economy and as the Federal Reserve's patient approach to interest-rate cuts stood in contrast to more dovish peers.
Thierry Wizman, global FX & rates strategist at Macquarie, in New York sees continued dollar strength as political uncertainty in Europe could eventually sap business and consumer confidence. The U.S. Treasury on Thursday added Japan to a list of countries it is monitoring for potential labelling as a currency manipulator,"a diplomatic warning against additional intervention", said Weller. China is among others on the list.
Japan's top currency diplomat Masato Kanda said on Friday that Tokyo stands ready to take further"resolute" action against"speculative, excessive volatility". A separate report showed British business growth slowed to a seven-month low in June, weighed down by nerves about the July 4 general election.
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