Dollar extends gains vs yen, euro pops in wake of US data

NEW YORK: The dollar edged higher against the yen on Wednesday as US data showed an overall improvement in the housing market.

The Commerce Department's report showed a decline in housing starts last month, but this was due to the more volatile multi-family component. Meanwhile, starts for single-family units, representing two-thirds of the total, rose to their highest since July 2008.

The dollar rose as high as 93.67 yen and was last at 93.65 yen, slightly higher on the day.

The euro also saw a quick 10-tick rise versus the dollar following the data, suggesting traders putting a bit more risk on the table.