Dollar hits 5-year high in upper 116 yen level, Tokyo stocks plunge

Economy

The U.S. dollar climbed into the upper 116 yen range Friday to hit its highest level in over five years after U.S. Treasury yields rose overnight on data suggesting an acceleration in inflation, while the Nikkei stock index plunged nearly 2 percent. At 3 p.m., the dollar fetched 116.69-70 yen compared with 116.08-18 yen in New York and 115.92-94 yen in Tokyo at 5 p.m. Thursday. The euro was quoted at $1.0996-1000 and 128.29-37 yen against $1.0983-0993 and 127.54-64 yen in New York and $1.1064-1066 and 128.26-30 yen in Tokyo late Thursday afternoon. The 225-issue Nikkei Stock Average ended down...

Kyodo News

Kyodo News