03.11.201422:37:50UTC+00US dollar trades near 7-year peak

The US dollar traded close to its strongest level in nearly seven years versus the Japanese yen ahead of Reserve Bank board members’ meeting today and as the Bank of Japan added to monetary stimulus.

The greenback slipped 0.2% to ¥113.79 as of 8:43 a.m. in Tokyo from yesterday, when it hit ¥114.22, the highest since December 2007. The currency was slightly changed at $1.2490 per euro from yesterday’s $1.2440.

“There’s nothing else worth investing in other than the dollar from an economic-fundamental perspective,” said Naohiro Nomoto, Associate for Foreign-Exchange Trading at Bank of Tokyo-Mitsubishi UFJ Ltd.