The dollar hit a five-year high of ¥104.85 in Tokyo trading Thursday, backed by a brighter world economic outlook reflecting the recent strength of stock prices.
At 5 p.m., the dollar was quoted at ¥104.76-77, up from ¥104.40-42 at the same time on Wednesday. The euro stood at $1.3685-3686, up from $1.3673-3679, and at ¥143.41-42, up from ¥142.83-83. The dollar soared against the yen in thin trading just after Christmas, as Japanese stock prices gained more ground on Thursday, traders said.
JGB yield hits 3-month high
Japanese government bonds lost further ground in Tokyo on Thursday as investors’ risk appetite grew on the back of the yen’s drop and higher Tokyo stocks, pushing up a benchmark 10-year JGB yield to a three-month high.
The yield on the latest 322nd 10-year JGB issue with a 0.6 percent coupon stood at 0.710 percent in late interdealer trading, the highest level since Sept. 18 for a benchmark 10-year JGB yield, and up from 0.695 percent late Wednesday.
