Dollar Hits 30-Month High Against Yen, Euro Gains on Dollar
The U.S. dollar hit its highest level against the yen since June 2010 on Friday. At its close, it traded at ¥90.09 late in New York, up from ¥89.87 late Thursday. Since September 2012, the dollar has gained more than 16% against the yen.
The euro, Europe’s common currency, traded at $1.3321 late on Friday, down from $1.3377 on Thursday. It has gained 8% against the dollar in the past six months. On Tuesday Eurogroup President Jean-Claude Juncker said that the rise is hindering economic growth in the 17-nation bloc.
As recently as July, the euro was trading at $1.206. Despite the rise, it remains well below its high of $1.42 in October 2011.
The euro celebrated its 11th anniversary at the beginning of January.