Dollar creeps toward fresh 7-year yen high

TOKYO: The dollar crept toward 120 yen and a new seven-year high on Wednesday as a batch of encouraging US data showed further improvement in the world’s largest economy.

In early Tokyo trading, the greenback rose as high as 119.43 yen, before settling to 119.20 yen in afternoon trade—that compares with 119.22 yen in New York on Tuesday afternoon. The US unit last broke the 120 yen level in July 2007.