Dollar rises 2 pct vs yen to 2-1/2-year high

NEW YORK Thu Jan 24, 2013 4:20pm EST

Related Topics

NEW YORK Jan 24 (Reuters) - The U.S. dollar jumped 2 percent against the yen on Thursday to hit a 2-1/2-year high in late trade on Thursday.

The dollar had risen as high as 90.54 yen on Reuters data. Gains accelerated after the dollar/yen broke above the previous 2-1/2-year high of 90.25 set on Monday.

"The whole move today was a very sharp rebound" in dollar/yen," said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange in Washington. "The latest leg this afternoon is just a continuation of that move."

Esiner said the next key level in dollar/yen is 90.80.

The yen tumbled across the board after an economic official in said the Japanese government has no problem with the dollar hitting 100 yen.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.