Dollar hits 7-year high of JPY 118 level

The US dollar rose to the lower 118 yen range on Thursday in Tokyo, the highest in seven years and three months following the rise in New York overnight.
At 5:15 p.m. (0815 GMT), the greenback fetched JPY 118.42-44 compared with JPY 117.93-118.03 in New York and JPY 117.36-38 in Tokyo at 5 p.m. Wednesday. The dollar climbed to JPY 118.72 at one point in the afternoon, its highest level since August 10th, 2007.
In New York on Wednesday, the dollar also climbed to to seven-year high against the yen as minutes from US Federal Reserve's latest policy meeting showed that the US central bank plans to raise interest rates next year, while central banks from Japan and Europe will likely further add economic stimulus.
The weaker yen boosted buy orders for export-related shares such as automakers in the Japanese stock markets. The Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) gained 12.11 points, or 0.07 percent, from Wednesday to 17,300.86. The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, advanced 1.10 points, or 0.08 percent, to 1,397.64.