Dollar surges, tops 100 yen first time in 4 years
World BusinessMay 10, 2013
The dollar surged on Thursday against major currencies, topping the 100-yen level for the first time in four years, helped by new jobs data adding to confidence in the US economy.The dollar jumped to 100.55 yen at 2100 GMT, up from 99.01 late Wednesday, in a long-expected move above the 100 threshold as the Bank of Japan pumps out more liquidity to wrench the Japanese economy from a deflationary hole.The dollar has gained more than 30 percent on the yen since it bottomed out at 77 yen late last