Dollar hits 1-month high vs. yen on U.S. rate hike prospects

The U.S. dollar remained firm early Tuesday in Tokyo after hitting a one-month high of 134.57 yen in New York as solid U.S. manufacturing data fueled expectations of another interest rate hike next month.

At 9 a.m., the dollar fetched 134.45-48 yen compared with 134.43-53 yen in New York and 134.04-06 yen in Tokyo at 5 p.m. Monday.

The euro was quoted at $1.0924-0925 and 146.87-92 yen against $1.0923-0933 and 146.91-147.01 yen in New York and $1.0991-0993 and 147.33-37 yen in Tokyo late Monday afternoon.

Tokyo stocks opened slightly higher, tracking gains on Wall Street overnight and buoyed by exported-related issues amid the weaker yen.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 26.52 points, or 0.09 percent, from Monday to 28,541.30. The broader Topix index was up 7.11 points, or 0.35 percent, at 2,034.08.

Gainers were led by bank, farm and fishery, and information and communication shares.

© Kyodo News