Dollar Set for Weekly Gain Before Data on Housing, Goods Orders

Bloomberg, (21/6) -- The dollar headed for a weekly gain against all of its 16 major peers before U.S. data next week on home prices and durable-goods orders that may add to the case for the Federal Reserve to slow its bond purchases. The yen snapped a four-day decline against the greenback as Asian stocks extended a global rout before a speech today by Bank of Japan Governor Haruhiko Kuroda. Deutsche Bank AG’s G10 FX Carry Basket index fell to the lowest level since September as borrowing costs rose in the U.S. “I expect the dollar to remain resilient because it’s become clear that the Fed’s policy stance is tapering,” said Yuki Sakasai, a foreign-exchange strategist at Barclays Plc in New York. The yen may weaken further as “there’s a sufficiently good chance that the Bank of Japan will have to introduce additional monetary easing.' The dollar traded little changed at $1.3216 per euro as of 10:13 a.m. in Tokyo, set for a 1 percent advance on the week. The yen was little changed at 97.29 per dollar and added 0.1 percent to 128.55 against the euro.