Dollar extends gains on Yellen rate-hike
Updated | By AFP
The dollar added to its gains Monday after Federal Reserve boss Janet Yellen suggested an interest rate hike this year was still on the table.

In a speech Friday at the annual Jackson Hole symposium of central bankers, Yellen said that the case for a US rate hike had "strengthened", sharply boosting the greenback.
But she did not give a clear signal on the timing of a possible increase, leaving markets in limbo again over when the US central bank would move, analysts said.
Dealers are now awaiting non-farm payrolls data this week, with a strong reading expected to bolster the case that the world's top economy could withstand a rise in borrowing costs, possibly this year.
ALSO READ: News of Gordhan summons sends rand plummeting
"After a week of guessing, Yellen left little to the imagination when she stated that the case of a Fed rate hike had strengthened, but remained very much data dependent," said Stephen Innes, senior trader at forex firm OANDA Asia Pacific.
"After all was said and done, we are still left pondering the most fundamental question, when will the Fed lift off.
"Given the proximity of the granddaddy of all Fed data, the non-farm payrolls, it is without question that this week's print will take on more importance than usual," Innes said in a commentary.
The dollar climbed to 102.16 yen on Monday in Tokyo from 101.77 yen in New York and 100.48 yen in Tokyo earlier Friday.
The US unit jumped 0.9 percent against the South Korean won and 0.7 percent against Malaysia's ringgit, while it also rose on the Taiwan and Singapore dollars, Philippine peso, and Indonesian rupiah.
ALSO READ: Jacob Zuma positive about future of SA
The euro ticked up to $1.1200 and 114.43 yen from $1.1195 and 113.94 yen in US trade.
Bank of Japan Governor Haruhiko Kuroda told the Jackson Hole symposium that there was no doubt the central bank had "ample space" for taking additional easing measures.
The BoJ, which holds its next meeting in late September, has been under increasing pressure to unleash fresh measures to counter a downturn in the world's number three economy.
"Despite this rhetoric, Kuroda will need to contend with the growing number of Bank of Japan officials who are gravely concerned at the underlying ineffectiveness of this massive policy spend," said OANDA's Innes.
The central bank's huge monetary easing policy is a cornerstone of Prime Minister Shinzo Abe's bid to kickstart lacklustre growth.
But more than three years on, the policy blitz appears to have had little lasting impact with the economy stalling in the second quarter.
Show's Stories
-
A quick solution to stop the mozzies from biting you
This is a new one – who knew something that smells so sweet could help k...
The Workzone with Alex Jay 15 hours ago -
Kid gets head stuck in railing, but dad comes to the rescue
Daddy to the rescue...
The Workzone with Elana Afrika-Bredenkamp 15 hours ago