Dollar Hits Two-Month High Vs. Yen

The dollar on Wednesday hit a two-month high against the Japanese yen after a top politician all but ruled out the use of a tax cut to help stimulate the weak Japanese economy.

“The dollar is stronger against everything,” said Jay Bryson, international economist with First Union Capital Markets in Charlotte, N.C.

During intraday trading, the dollar hit 130.40 yen, its highest level since Jan. 15 when it reached 130.95 yen.

In an interview published Wednesday, ruling Liberal Democratic Party policy chief Taku Yamasaki said it was nearly impossible to include income tax cuts in an upcoming fiscal stimulus package aimed at reviving the economy.

Exchange Currency in Dollars Dollar in foreign currency

Canada .7083 1.4119

France .1639 6.1005

Germany .5497 1.8193

Great Britain 1.6692 .5991

Italy .000558 1791.75

Japan .007714 129.64

Mexico .116530 8.5815