A strong week for the Nikkei has continued today (July 18th), with the index up again.
It rose by 193.46 points to 14,808.50, which is a new eight-week high for the index. It has been up every day this week so far, reports Reuters.
The dollar also traded above the yen on the back of comments made by chairman of the Federal Reserve Ben Bernanke about the quantitative easing scheme.
He revealed that the timing of the closure of the programme is flexible and will depend on the health of the US economy.
Markets around the world fell last month when Mr Bernanke intimated that the scheme could be wound down next year as long as the economy was still recovering well.
The Nikkei's gains of 1.3 per cent come after it was up by 0.1 per cent yesterday. The index looks set to record one of its strongest weeks of the year as long as its performance holds up tomorrow.
Learn about the Asian markets and CFD trading at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.