Healthy Growth Helps Dollar Soar

The dollar hit a six-week high against the yen and rose sharply in most other currency dealings Friday, driven by benign inflation data and healthy growth reflected in the March employment report.

A modest rally in the beleaguered stock market, eased concerns over U.S.-Japan trade friction and purchases of dollars by Japanese investors as their new fiscal year gets under way also helped push the dollar higher.

In New York, the dollar settled at 124.31 yen, up from 122.65 yen Thursday and the highest level since Feb. 19.

The dollar cost 1.6854 marks, up from 1.6685. The pound cost $1.6355, down from $1.6464.