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Dollar propped up for higher US interest rates
10/13/2005
TOKYO, Oct 12 (AFP): The dollar held close to 16-month highs against the yen today and gained on the euro on prospects of a continued tightening of US monetary policy, dealers said.
The dollar rose to 114.57 yen in afternoon Tokyo trade from 114.50 in New York late Tuesday. The US currency rose to as high as 114.66 yen in late morning trade here, levels not seen since May 2004.
The euro fell to 1.1972 dollars from 1.1992 and to 137.20 yen from 137.37.
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