Dollar rises above 99 yen for first time since June 11

TOKYO, June 28 Fri Jun 28, 2013 12:31am EDT

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TOKYO, June 28 (Reuters) - The dollar scaled a two-and-a-half week peak against the yen in Asia on Friday, against a backdrop that yield differentials will still favor the greenback.

The dollar advanced 0.6 percent to 98.96 after touching a two-and-a-half-week high of 99.03 yen.

Japanese economic data on Friday showed some progress toward stimulating the economy and beating deflation. But it underscored that the Bank of Japan will keep its easy monetary policy in place for a while, even as the U.S. Federal Reserve has begun talk of eventually reducing its asset-buying stimulus as the U.S. economy improves.

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