Oil Prices Push Dollar Up On Yen

The dollar approached a five-month high against the yen Friday, lifted by a jump in oil prices after the United States ordered an aircraft carrier battle group to the Persian Gulf.

Japan’s dependency on imported oil makes its economy vulnerable to any supply interruptions.

The dollar lost ground against the German mark on stable U.S. jobs figures that suggested Germany will raise interest rates before the U.S. Federal Reserve.

In late trading in New York, the dollar was quoted at 122.03 Japanese yen, up from 121.65 late Thursday. The dollar bought 1.7572 German marks, down from 1.7725.

Oil on the New York Mercantile Exchange rose 99 cents to its highest level since February.