Originally published Thursday, September 16, 2010 at 5:50 AM

Euro at five-week highs against dollar

The euro has hit a new five-week high against the dollar, as the effects of the Bank of Japan's intervention to weaken the yen are felt throughout the currency markets.

The Associated Press

BERLIN —

The euro has hit a new five-week high against the dollar, as the effects of the Bank of Japan's intervention to weaken the yen are felt throughout the currency markets.

The 16-nation euro bought $1.3144 in early Friday trading, up from the $1.3080 in reached in late trading in New York on Thursday, having climbed past the $1.31 mark for the first time since Aug. 11 earlier in the day.

The common currency was helped by Japan's defense of the yen, which had made significant gains against the dollar. It bought 85.87 yen on Friday, compared with 85.78 late Thursday.

Elsewhere, the British pound traded at $1.5698, up from the $1.5640 it bought in late New York trading the day before.

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