Nikkei rises to eight-week high

<p>The Nikkei is up again and has hit an eight-week high.</p>

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.

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