LOC11:21
08:21 GMT
TOKYO, Sept 18 (KUNA) -- The US dollar rose to the upper 108 yen range on Thursday in Tokyo, the highest in six years on expectations of a steady US economic recovery following the US Federal Reserve's policy meeting.
The greenback fetched JPY 108.74-78 compared with JPY 108.32-42 in New York and JPY 107.26-28 in Tokyo Wednesday.
The dollar climbed to JPY 108.83 at one point in the afternoon, its highest level since September 8, 2008.
In a statement on Wednesday after a two-day Federal Open Market Committee policy meeting, the Fed said it will keep interest rates unchanged near zero.
The US central bank also decided to reduce another USD 10 billion from its monthly bond buyback program, bringing it down to USD 15 billion, the program is on track to conclude in October.
The weaker yen boosted buy orders for export-related shares in the Japanese stock markets, sending the benchmark index to hit an eight-month high.
The Nikkei 225 Stock Average on the Tokyo Stock Exchange (TSE) gained 178.90 points, or 1.13 percent, from Wednesday to 16,067.57, the highest finish since Jan. 8.
The broader Tokyo Stock Price Index, which includes all First Section issues on the TSE, advanced 12.95 points, or 0.99 percent, to 1,317.91. (end)
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