Dollar hits nearly 5-yr high vs yen amid bright U.S. economic outlook

© Kyodo News

The U.S. dollar briefly hit an almost five-year high near the 115 yen line on Wednesday after stronger-than-expected U.S. data boosted hopes for a brighter outlook for the world's largest economy, although the weaker yen weighed on Tokyo stocks amid concern over rising material costs.

The dollar advanced to around 114.97 yen, its highest level since March 2017, before remaining firm in the upper 114 yen zone.

The 225-issue Nikkei Stock Average ended down 119.79 points, or 0.40 percent, from Tuesday at 29,688.33. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 12.49 points, or 0.61 percent, lower at 2,038.34.

Decliners were led by air transportation, service, and farm and fishery issues.