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Currencies: Dollar rockets to two-week high versus yen as Fed officials signal rate hikes

The dollar hit a two-week high against the yen during Asia trade on Monday, after top officials of the U.S. Federal Reserve sent hawkish signals indicating a stronger case for raising short-term rates in the coming weeks or months.

The greenback USDJPY, +0.32% advanced to ¥102.31 in early afternoon, its highest level since Aug. 12, before giving up its earlier gains to change hands at ¥102.24 . That was higher than ¥101.82 late Friday in New York.

The euro EURUSD, -0.0893% was almost unchanged at $1.1204 midday from $1.1200 late Friday.

The WSJ Dollar Index BUXX, +0.17% a measure of the dollar against a basket of major currencies, was up 0.05% at 86.53.

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