Nikkei up to four-year-high as yen weakens

<p>The sliding Japanese currency has boosted the Tokyo stock market.</p>

The Nikkei market reached its highest level since August 2008 today (April 8th) as the Japanese yen fell to a near four-year low.

As a result of the radical monetary easing policies announced by new Bank of Japan (BoJ) governor Haruhiko Kuroda on Thursday, the currency has weakened dramatically, boosting Tokyo stocks.

The Nikkei 225 stock average advanced by 2.8 per cent on Monday as a further slide in the yen served to increase the competitiveness of Japanese exports.

However, trading is much more mixed away from Tokyo, with concerns over the potential conflict in the Korean peninsula, a new strain of bird flu in China and poor US payroll data all serving to stunt progress early in the week.

Since the BoJ policy announcement, the yen has fallen by one per cent, with the US dollar trading at 98.84 yen as of 9:00 BST.

Barclays Capital has suggested the currency could reach 103 yen per dollar within the next three months.

"We expect further weakness ahead, given the bank's clear commitment to achieve its two per cent [inflation] target," it stated.

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