Tokyo shares hit 6 year high as Yen tumbles
The Nikkei Stock Average hit its highest closing mark in nearly six years overnight Thursday as another surge in the value of the dollar lead to hope for profit gains for major exporters like Toyota (TM). A stronger dollar benefits exporters by making their goods cheaper to buy overseas and fattening profits converted back into yen. Expected weakness is continued the yen, which is driving people back into Japanese stocks.
Source: Wall Street Journal