Dollar hits 6-year high of upper JPY 105 level in Tokyo

GMT 13:34 2014 Friday ,05 September

Arab Today, arab today Dollar hits 6-year high of upper JPY 105 level in Tokyo

Strong yen makes Tokyo intervention more likely
Tokyo - KUNA
The US dollar rose to the upper 105 yen range on Friday in Tokyo, the highest in almost six years, following the European Central Bank's (ECB) announcement of easing measures and ahead of US jobs data.
At 3:25 p.m. (0625 GMT), the greenback fetched JPY 105.31-36 compared with JPY 105.21-31 in New York and JPY 104.94-95 in Tokyo at 5 p.m. Thursday. The dollar climbed to JPY 105.71 at one point in the morning, its highest level since October 3, 2008.
The euro dropped to a 14-month low against the dollar overnight after the ECB unexpectedly cut its main refinancing and deposit rates to stimulate recovery in the eurozone economy. Investors were also upbeat about US monthly payrolls data to be released later in the day.
In the stock markets, the Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) fell 7.50 points, or 0.05 percent, from Thursday to 15,668.68. The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, also declined 3.18 points, or 0.25 percent, to 1,293.21. (end) mk.gta


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