Dollar continues to gain vs yen, near one-week high at peak

by on July 27, 2012 2:22 pm BST

NEW YORK, July 27 |
Fri Jul 27, 2012 10:22am EDT

(Reuters) – The dollar climbed to a near
one-week high against the yen o n Friday as investors bet that a
report showing U.S. economic growth slowed as expected in the
second quarter would delay any move from the Fed to pump more
money into the economy.

The dollar gained 0.3 percent against the yen to 78.47 at
the peak and was last at 78.45 yen.

The euro was last up 0.7 percent at $1.2362, just short of
the session peak of $1.2369. The euro benefited from news
German chancellor Angela Merkel and French President François
Hollande were ready to do everything to safeguard the euro zone.