Dollar briefly hits 6-yr high around 120 yen on hawkish U.S. Fed

Economy

The U.S. dollar briefly rose to the 120 yen line Tuesday in Tokyo, its highest level in over six years, after the Federal Reserve suggested it may take aggressive measures to tackle soaring inflation in the United States. At 11:30 a.m., the dollar fetched 119.88-89 yen compared with 119.43-53 yen in New York at 5 p.m. Monday. The euro was quoted at $1.0994-0995 and 131.80-82 yen against $1.1010-1020 and 131.57-67 yen in New York late Monday afternoon. The 225-issue Nikkei Stock Average rose 415.45 points, or 1.55 percent, from Friday to 27,242.88. Japanese financial markets were closed Monday ...

Kyodo News

Kyodo News