Yen breaks 100 mark against dollar

<p>The yen has reached a landmark against the dollar.</p>

The yen has broken through the 100 mark against the dollar, a major landmark for the currency.

It broke the threshold in New York on Thursday (May 9th) and in the early hours of trading in Asia today it has grown close to 100.8 yen to the US dollar.

Joe Manimbo, senior market analyst at Western Union Business Solutions, told BBC News: "A stampede out of safety and brightening US job prospects helped catapult the dollar over the key triple-digit threshold against the yen."

The Nikkei is having a strong morning despite the yen breaking through the landmark against the dollar and the index was up by three per cent at one point in the early trading session.

Yen has fallen nearly 25 per cent against the US dollar since November, with the Bank of Japan's measures to support the economy having weakened the currency to increase demand.

Hiroichi Nishi from SMBC Nikko Securities recently explained a weaker yen has persuaded investors to return to the market.

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