Dollar Moves Up On Yen, Mark

The dollar rose sharply against other major currencies Friday, scoring its biggest gain vs. the mark since mid-July as Germany’s top central banker said the U.S. currency will remain strong and traders speculated that U.S. interest rates may rise soon.

The dollar rallied against the yen as U.S. and Japanese negotiators said they were close to resolving a trade dispute.

In late New York trading, the dollar was quoted at 1.7718 marks, up from 1.7435 late Thursday. The 1.6 percent rise was the sharpest since July 11. The dollar also was quoted at 120.68 yen, up from 119.65.

The dollar is below the eight-year highs of about 1.8800 marks from mid-August, but it is higher than its levels at the start of the year.