- ARAB NEWS
- 24 Apr 2024
Since 1975
LONDON: The dollar topped 116 yen for the first time in five years in postholiday London trading Tuesday morning as concerns eased over the omicron coronavirus variant.
At noon, the dollar was quoted at 116.10-20 yen, up from 115.10-20 yen at 4 p.m. Friday, the previous trading day.
Market players sold yen for dollars on receding risk aversion backed by a spreading view that the omicron variant tends to cause less serious COVID-19 symptoms than other strains, traders said.
US stocks and long-term interest rates rose, leading to an easing of concerns over the novel coronavirus pandemic, an official at a British research company said.
JIJI Press
