Dollar hits four-year high against yen

Suzie Neuwirth

THE US dollar rose to a four-year high against the yen today, breaking through the 100 barrier to ¥101.20, as Japan's aggressive stimulus plan causes investors to search elsewhere for higher yielding investments.

The yen had fallen sharply against the dollar in recent months, with strong US jobs data easing fears of a slowdown in the the world's largest economy.

Analysts say that speculation about the tapering of quantitative easing and China looking to increase its US dollar reserves have also impacted the exchange rate.