Dollar Briefly Hits Four-Month Low Against Yen

The U.S. dollar has not been doing so hot against the Japanese yen in Tokyo since New Year's. It briefly hit a 4-month low in today's trading.

Jiji Press reported:

Tokyo, Jan. 15 (Jiji Press)--The dollar briefly hit a four-month low below 110.60 yen in Tokyo trading on Monday, reflecting its weakness against the euro, which drew demand due to progress in negotiations in Germany to form a coalition government. 

 After falling to the lowest level in Tokyo since Sept. 15 last year, the dollar stood at 110.81-82 yen at 5 p.m., down from 111.36-37 yen at the same time on Friday.

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