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Dollar gains versus yen on U.S. housing, sentiment data

By Vivianne Rodrigues NEW YORK (Reuters) - The U.S. dollar rose against the Japanese yen on Friday, after a trio of better-than-expected data injected a dose of optimism about the U.S. economy. The upbeat readings on U.S. durable goods orders, new-home sales, and a rebound in consumer sentiment from a 28-year low allayed some of the recent gloom over the economy and financial markets, sending stocks higher and giving a boost to the beleaguered U.S. currency. "This is perhaps the best we could have ever hoped for amid the current economic conditions," said Michael Woolfolk, senior currency strategist at The Bank of New York Mellon in New York. "It flies in the face of the pessimists out there calling for a recession. It's just simply not reflected in the numbers," he added. "The dollar rally gets a strong green light to... [read full story]                    

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