Dollar Reaches 5-year High At Upper-103 Yen

The dollar has reached a five-year high against the Japanese yen, The Mainichi Shimbun reported today.

They reported:

TOKYO (Kyodo) -- The U.S. dollar reached a five-year high in the upper-103 yen zone Friday in Tokyo, boosted by strong U.S. retail data and a widened gap in U.S. and Japanese interest rates. 

At 5 p.m., the dollar fetched 103.60-61 yen compared with 103.32-42 yen in New York and 102.81-82 yen in Tokyo at 5 p.m. Thursday. It moved between 103.36 yen and 103.92 yen during the day, changing hands most frequently at 103.60 yen.

The more yen the dollar is able to buy in foreign exchange, the more affordable a vacation trip to Japan is.

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