Dollar Briefly Hits 97 Yen In Tokyo Trading

The exchange rate between the U.S. dollar and Japanese yen briefly flirted at ¥97 yen today.

Jiji Press reported:

Tokyo, April 5 (Jiji Press)--The dollar temporarily rose above 97 yen for the first time in three years and eight months in Tokyo trading Friday, drawing continued support from the Bank of Japan's aggressive monetary easing measures announced the previous day.

It shouldn't be long (if the trend continues) when the dollar hits ¥100.  This is only good news for U.S. tourists to Japan as their money buys more yen, thereby increasing their purchasing power.

To read the full report, go here.