World Economy

Dollar Gains on Yen

Dollar Gains on YenDollar Gains on Yen

The US dollar was holding broad-based gains in Asia on Tuesday in a boon for shares of Japanese exporters but a burden for oil, gold and stocks in the energy majors. As the dollar finally broke to a six-year peak on the yen and a one-year top on the euro, Brent oil sank to 16-month lows while gold carved out a three-month trough. According to Nomura Securities, a fall of 1 yen against the dollar boosts aggregate operating profits at Topix firms by 300 billion yen.