Dollar Rises to Fresh 7-week High on Rate Outlook; Yen Slides

Dollar Rises to Fresh 7-week High on Rate Outlook; Yen Slides
Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken on Sept. 23, 2022. Florence Lo/Reuters
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LONDON—The dollar index rose to seven-week highs on Friday, as investors prepared for U.S. interest rates to stay higher for longer after a set of strong U.S. economic data.

The yen fell after a volatile Asian trading session, with incoming Bank of Japan Governor Kazuo Ueda saying it was appropriate to keep ultra-loose monetary policy.