NEW YORK, April 8 The dollar hit its highest
level against the yen in nearly four years on Monday after the
Bank of Japan, in an attempt to eradicate persistent deflation,
kicked off an aggressive program of monetary easing.
The BOJ said it would buy 1 trillion yen of government bonds
with maturities between five and 10 years, and 200 billion yen
of bonds with maturities exceeding 10 years.
The dollar rose as high as 99.37 yen, the highest
since May 2009, before pulling back slightly to trade at 99.34
yen, up 1.9 percent on the day.
The euro, meanwhile, pared gains against the dollar and last
traded at $1.2994, nearly flat on the day, according to