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Dollar poised for strongest monthly gain against yen in 18 months
The dollar was poised on Tuesday to log its strongest monthly gain against the yen in a year and a half as strong readings on consumer spending and home prices helped push the greenback higher on the final trading day of the month. One dollar was buying USDJPY, -0.19% ¥111.18 yen in recent trade, putting it on track for a monthly gain of 4.5%. By comparison, it traded at ¥110.95 late Monday in New York. Shifting expectations about the speed at which the Federal Reserve intends to raise interest rates helped revive support for the greenback in May, as a host of Fed speakers—including, on Friday, Fed Chairwoman ... (full story)