US Dollar gains with yields, growth seen likely to outperform

The dollar gained on Wednesday as investors priced for strong U.S. growth relative to other regions, while the safe haven Japanese yen weakened to a seven-month low. Investors have boosted bets on U.S. growth and inflation as the government prepares new fiscal stimulus, and speculation is rising that the Federal Reserve could also be closer to normalizing monetary policy than previously expected. “What the market is looking at today are growth differentials between a recovering U.S. and more of a sputtering Europe,” said Joe Manimbo, senior market analyst at Western Union Business Solutions, in Washington. Data … (full story)

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