Japanese stocks move towards two-year peak

Japanese stocks move towards two-year peak

On Tuesday, Japanese stocks moved towards two-year peak because exporters derived benefits from the greenback’s strength, with traders expecting comments from Fed Chair Janet Yellen to back the Fed's projection for one more interest rate lift in 2017.

Spreadbetters hoped for a moderately higher start for The UK FTSE, France's CAC as well as Germany's DAX.

Janet Yellen is expected to participate in a discussion on global economic questions at London's Royal Academy. Additionally, a number of other top Fed officials are also supposed to deliver speeches later in the global day.

Japan's benchmark Nikkei N225 gained 0.3%, trading at 20,210.09. A leap above 20,318.11 achieved a week ago, would bring the Japanese benchmark to its highest value since August 2015.

Notwithstanding lower Treasury yields, the greenback managed to extend its overnight revenue and was firm enough at 111.800 yen, having ascended to a one-month high of 112.075.

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