The U.S. dollar briefly hit a five-year high in the upper 115 yen range on Tuesday, the first trading day of 2022, while Tokyo stocks surged to bring the Nikkei index to its highest level in over a month.
At 3 p.m., the dollar fetched 115.73-77 yen compared with 115.28-38 yen in New York at 5 p.m. Monday. Japanese financial markets were closed Friday and Monday due to the year-end and New Year holidays.
The euro was quoted at $1.1303-1307 and 130.81-90 yen against $1.1294-1304 and 130.26-36 yen in New York late Monday afternoon.
The 225-issue Nikkei Stock Average ended up 510.08 points, or 1.77 percent, from Thursday at 29,301.79, its highest close since Nov. 25. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 37.89 points, or 1.90 percent, higher at 2,030.22.
Gainers were led by marine transportation, transportation equipment and insurance issues.