Nikkei gains 1.02 pct on U.S. economic hopes, weaker yen (3)

14:56, March 05, 2011      

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The yen fell to lows of 115.17 versus its european counterpart, after European Central Bank President Jean-Claude Trichet said Europe's central bank may hike interest rates next month to address increasing inflation.

Versus the greenback, the yen dropped to 82.52 from 81.88, which boosts profit outlooks for Japanese firms overseas and ensures yields aren't diminished on unfavorable exchange rates when repatriated.

With the yen dropping against the euro and oil prices back down from 116 U.S. dollars per barrel highs seen recently, added to Wall Street's rise overnight, supportive factors were well-aligned analysts said and Japanese exporters were among the top beneficiaries Friday.

"All the positives lined up with oil prices down, U.S. stocks going up, and the yen weakening," said Masayoshi Yano, senior market analyst at Meiwa Securities.

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