The dollar remained higher versus the yen following a gain yesterday before U.S. data forecast to show consumer spending climbed the most in five months.
The greenback held a gain against the euro as investors weigh whether Federal Reserve Chairman Ben S. Bernanke will signal a new round of bond buying when he speaks in Jackson Hole, Wyoming tomorrow. The euro was 0.5 percent from reaching an eight-week high versus the yen after European Central Bank President Mario Draghi said itâ€™s in Germanyâ€™s interest to consent to extraordinary steps to preserve the single currency.
â€œThe market is scaling back its expectations a little bit for another clear signal of imminent policy easing as early as this week,â€ said Ray Attrill, global co-head of foreign- exchange strategy at National Australia Bank Ltd. (NAB) in Sydney. â€œThatâ€™s why the dollar is just a little bit firmer.â€