Dollar rises to almost 3-yr high vs yen amid U.S. inflation worries

Economy

The U.S. dollar soared to a nearly three-year high in the lower 113 yen range and Tokyo stocks fell on Tuesday, as surging oil prices fueled concerns about inflation and higher interest rates in the United States. At 3 p.m., the dollar fetched 113.31-32 yen compared with 113.25-35 yen in London at 4 p.m. and 112.78-80 yen in Tokyo at 5 p.m. Monday. U.S. currency and bond markets were closed Monday for a national holiday. The 225-issue Nikkei Stock Average ended down 267.59 points, or 0.94 percent, from Monday at 28,230.61. The broader Topix index of all First Section issues on the Tokyo Stock ...

Kyodo News

Kyodo News