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Wednesday, August 11, 2010

Dollar hits 15-year low against the yen

August 11, 2010 
TOKYO -- The U.S. dollar has fallen to a 15-year low against the yen after the U.S. Federal Reserve announced new measures to shore up the ailing American economy.
The greenback was quoted at 84.71 yen late Wednesday in Tokyo, the lowest since 1995.
The dollar's recent weakness against the yen is making Japanese exports less competitive in overseas markets and is knocking shares of Japan's manufacturers like Sony Corp. and Toyota Motor Corp.
The Nikkei 225 stock average on Wednesday tumbled 258.20, or 2.7 percent, to 9,292.85.

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