P.M. BRIEFING : Dollar Rises Sharply Against Yen
The dollar rose sharply against the yen despite central bank intervention today, the first day of 1990 trading in Tokyo, and the stock market’s main index declined moderately from its latest record high.
The dollar closed at 145.20 yen, up 1.80 yen from its finish of 143.40 Friday, the last trading day before Japan’s New Year holidays. The dollar had climbed 1.25 yen Friday.
It opened today at 145.55 yen and ranged between 144.90 yen and 145.72 yen.
In a half-day session of trading on the Tokyo Stock Exchange, share prices fell on news of the dollar’s strength. The 225-share Nikkei Stock Average, the market’s key index, closed at 32,712.88 points, down 202.99 points, or 0.52%.
The market had wound up 1989 trading with four consecutive days of record-high Nikkei closings.
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