Dollar-yen hits four-year high

Michael Bow
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THE US dollar rose past the 100-yen mark for the first time in four years last night, as the Japan’s currency weakened on expectations of massive monetary stimulus.

Traders pushed the Japanese currency to trade at one dollar to ¥100.682 late last night, the yen's lowest level since April 2009, capping a 27 per cent fall over the past six months.

The currency has weakened on the back of Prime Minister Shinzo Abe’s promise to expand quantitative easing.