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Dollar hits new high on yen after Powell reappointment

U.S. Federal Reserve chairman's extension firms bets on greenback

The dollar rose as much as 0.24% to 115.13 yen on Nov. 23, reaching its highest point since March 2017.    © Reuters

HONG KONG (Reuters) -- The dollar hit a new four-and-a-half-year top against the yen on Tuesday after Federal Reserve Chair Jerome Powell was renominated for a second term, reinforcing bets that U.S. interest rates would rise next year and diverge from Japan's.

The greenback rose as much as 0.24% to 115.13 yen, its highest since March 2017, having jumped 0.77% on Monday.

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