The U.S. dollar continues to gain ground against the Japanese yen.
Jiji Press reported:
Tokyo, Dec. 28 (Jiji Press)--The dollar rose further to 29-month highs around 86.50 yen in Tokyo trading on Friday, backed by unflagging hopes for bold fiscal spending and monetary easing under the new Japanese administration.
This continues the good news for Japanese exporters (a stronger dollar makes Japanese goods more affordable in the United States) and tourists to Japan (they get more yen for each dollar exchanged).
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