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Dollar up in Asia on Fed easing speculation
Parvez Jabri
13 Dec, 2013
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![](https://i.brecorder.com/images/2013/12/us-dollars.jpg">TOKYO: The dollar moved towards five-year highs against the yen in Asia Friday as investors bet that the US Federal Reserve will announce a start to its long-awaited stimulus pull back when it meets next week. </P><P>The greenback bought 103.56 yen in Tokyo morning trade, approaching levels not seen since late 2008 and well up from 102.40 yen in New York on Thursday.</P><P>The euro was nearly flat against the dollar, fetching $1.3748 from $1.3752 while the single currency gained to 142.36 yen from 141.19 yen -- also closing in on a five-year high.</P><P>Speculation over the Fed stimulus was fuelled Thursday after data showed US retail sales rose a better-than-expected 0.7 percent in November, a key month that kicks off the important year-end holiday shopping season.</P><P>Although some analysts say the Fed may hold off until January, the upbeat sales figures added to the picture of a stronger US economy, raising the chances that the central bank would start tapering its $85 billion-a-month bond buying programme.</P><P>)