The dollar briefly sank to the lower 102 yen level Friday in Tokyo, hitting its lowest rates in four years and 10 months here as players accelerated selling of the currency on a report that China has trimmed its holdings of U.S. bonds.
At 5 p.m., the dollar was quoted at 102 yen.51-53 against Thursday's quotes of 102 yen.50-60 at 4 p.m. in London and 102 yen.53-55 at 5 p.m. in Tokyo. New York markets were closed Thursday for the Thanksgiving holiday.
The dollar hit a low of 102.15 yen during the day, the lowest in Tokyo since Jan. 4, 2000, when it changed hands briefly at 101.46 yen. In global trading, it was the lowest rate since March 2000.
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