Dollar rises to 2-month high vs. yen after solid U.S. labor data

The U.S. dollar remained strong early Friday in Tokyo after hitting a two-and-a-half-month high of 137.10 yen in New York as data indicating a solid U.S. labor market fueled expectations of prolonged interest rate hikes in the country.

At 9 a.m., the dollar fetched 136.71-72 yen compared with 136.73-83 yen in New York and 136.78-79 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.0598-1.0600 and 144.89-92 yen against $1.0593-0603 and 144.86-96 yen in New York, and $1.0636-0637 and 145.48-52 yen in Tokyo late Thursday afternoon.

Tokyo stocks opened higher, tracking gains on Wall Street overnight and supported by buying of export-related issues amid the weaker yen.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 197.88 points, or 0.72 percent, from Thursday to 27,696.75. The broader Topix index was up 10.17 points, or 0.51 percent, at 2,004.74.

Gainers were led by precision instrument, retail and electric appliance shares.

© Kyodo News