Dollar strengthens against yen

<p>The dollar is up against the yen today.</p>

The dollar rebounded against the yen today (June 4th) due to the strong gains recorded by the Nikkei index during the trading session.

It rose by more than two per cent, providing a boost to the greenback after it had been hit by poor manufacturing data from the US.

Minori Uchida, chief currency analyst at the Bank of Tokyo-Mitsubishi UFJ, told the Wall Street Journal that it seems like the dollar has "firmed" against the yen.

The dollar was at 99.80 yen from 99.53 yen in late New York trading as investors eagerly await Japanese prime minister Shinzo Abe's growth strategy speech on Wednesday.

Yuji Saito, director of foreign exchange at Credit Agricole, said: "The markets will be keenly watching if there will be anything to excite the Japanese share market."

Shogo Maeda, head of Japanese equities at Schroders, recently claimed the poor state of the yen is going to help Japanese companies to record strong profits this year.

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