04.12.201400:51:57UTC+00US dollar accelerates near ¥120 on US growth forecast

The US dollar strengthened close to ¥120, the highest since July 2007, as analysts predicted US job growth would escalate while Japan would remain in recession.

“It’s still the divergent-growth, divergent-policy story. We are seeing capital flows out of Japan, and I think that helps bring capital out and continues this movement down in the yen,” said Robert Sinche, Global Strategist at Amherst Pierpont Securities LLC.

The greenback climbed 0.1% to ¥119.93 at 12:32 p.m. in Tokyo after rising to ¥119.94. The currency was slightly changed at $1.2307 per euro after increasing to $1.2301 yesterday, the firmest since August 2012.