The dollar pushed higher in US trade on Wednesday but most attention was once again focused on the fate of the Japanese yen.

This was partly due to a lack of theories as to why the greenback posted solid gains, firming 0.4 per cent to a five-week high $1.1932 to the euro, 0.3 per cent to $1.7387 against sterling, another five-week high, and 0.5 per cent to Y118.67 against the yen.