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Dollar nears 7-year high versus yen as Tokyo stocks soar
Shoaib Ur Rehman
11 Nov, 2014
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Copyright Reuters, 2014
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![](https://i.brecorder.com/images/2014/11/dollar-nov.jpg">TOKYO/SYDNEY: The dollar rose towards a seven-year high versus the yen on Tuesday as a surge in Tokyo stocks amid an increase in risk appetite dimmed the appeal of the Japanese currency.</P><P>Japan's Nikkei climbed 2.1 percent to a seven-year high as speculators saw a possibility Prime Minister Shinzo Abe could postpone a planned sales tax hike. </P><P>Higher risk appetite tends to favour the dollar by pushing US bond yields higher.</P><P>The dollar was up 0.4 percent at 115.325 yen, coming within reach of a seven-year peak of 115.60 scaled last week. </P><P>The greenback had already made significant gains overnight as openness to risk lifted US Treasury yields and propelled Wall Street stocks to record highs. </P><P>The dollar had dropped to 113.86 yen after US non-farm payroll (NFP) data on Friday failed to live up to the more optimistic expectations. </P><P>)
