American dollar extends its gains against Japanese yen heading to its highest in five years as trades bet on a variation in monetary policy with the U.S. Federal Reserve tapering and BOJ's continues unprecedented easing. Moreover, Japanese yen fell against major currencies today as Japan's Nikkei 225 stock index topped 16K for the first time since 2007 as well as China's recent cash conducted operations to ease cash crunch. USD/JPY pair extended gains today to reach high of 104.402 from low of 104.151, where the pair started today's session at 104.171. At the same time, Japanese yen also dropped against the euro, as the EUR/JPY pair rose to high of 142.870 from low of 142.612, where the pair started today's session at 142.681. GBP/JPY pair inclined to high of 170.702 from low of 170.241. On the other side, Euro noticeably dropped against American dollar amid the current strength in dollar, where the EUR/USD pair fell to low of 1.36753 after starting the session at 1.36962, where the pair reached its highest at 1.36971.
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