Yen slide and Tokyo stock price climb set to continue

Tokyo

THE yen slumped to a more than ten-month low of 118.20 to the dollar in Tokyo on Friday and, with analysts saying that international tolerance for a weaker yen is rising, the currency is seen likely to break soon through the 120 mark and to continue on down from there.

The implication for Tokyo stocks which have already risen sharply in recent weeks is that prices are likely to continue upwards, with the Nikkei 225 average expected to push quickly above the 20,000 levels. The index closed at 19,401.15 on Friday.