Yen firm in 141 zone vs. dollar, stocks surge on U.S. inflation data

The yen was firm in the 141 range versus the U.S. dollar early Friday after surging overnight in New York while Tokyo stocks jumped as weaker-than-expected U.S. inflation data led to expectations of smaller interest rate hikes by the Federal Reserve.

The yen touched 140.20 versus the dollar overnight in New York, rising by over 6 yen from late Thursday in Tokyo to hit a two-month high after the release of U.S. inflation data for October.

At 9 a.m., the dollar fetched 141.74-77 yen compared with 140.90-141.00 yen in New York and 146.30-31 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.0190-0194 and 144.43-52 yen against $1.0205-0215 and 143.80-90 yen in New York and $0.9997-9999 and 146.26-30 yen in Tokyo late Thursday afternoon.

Tokyo stocks tracked sharp gains in New York, where the Dow Jones index ended at around a three-month high the previous day.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 676.00 points, or 2.46 percent, from Thursday to 28,122.10. The broader Topix index was up 34.97 points, or 1.81 percent, at 1,971.63.

On the top-tier Prime Market, gainers were led by rubber product, electric appliance, and metal product issues.

© Kyodo News