New York, March 27 (Jiji Press)–The dollar climbed to top 160 yen for the first time in about 20 months in New York foreign exchange trading Friday. The U.S. currency rose to around 160.20 yen temporarily, attracting safe-haven buying amid growing concerns that tensions in the Middle East will continue for an extended period of time, traders said. At noon, the dollar stood at 160.10-20 yen, up from 159.74-84 yen at 5 p.m. Thursday. Crude oil futures prices rose back in off-hours trading due to a prevailing view that negotiations between the U.S.-Israeli side and Iran on a ceasefire agreement may face a rough going. Dollar buying grew as investors increasingly believe that the Middle East crisis will drag on, market sources said. The euro was at 1.1520-1530 dollars at noon, against 1.1524-1534 dollars at 5 p.m. Thursday, and at 184.50-60 yen, up from 184.07-17 yen. END [Copyright The Jiji Press, Ltd.]
Dollar Tops 160 Yen for 1st Time in 20 Months
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