The dollar rallied Wednesday to a 21-week high against the Japanese yen, drawing strength from a bond market sell-off in Tokyo and a U.S. government report favoring a stronger currency.
The yen’s broad weakening limited the dollar’s gains against key European currencies, however, as foreign investors dumped Japanese government bonds and then sold yen for German marks and other currencies.
In late New York trading, the dollar was quoted at 101.35 yen, the highest level since Aug. 10 and up from 100.68 late Tuesday.
Currency in Dollar in
EXCHANGE Dollars foreign currency
Canada .7133 1.4020
France .1861 5.3730
Germany .6410 1.5600
Great Britain 1.5603 .6409
Japan .009861 101.41