The US dollar hit an eight-month high against the yen Tuesday in Tokyo as market participants were concerned about detrimental effects of the record-high oil prices on the Japanese economy.

At 5 p.m., the dollar was quoted at 109.77-79 yen, up from Monday's 5 p.m. quotes of 109.21-31 yen in New York and 109.21-23 yen in Tokyo.

It moved between 109.22 yen and 109.84 yen during the day, trading most frequently at 109.75 yen. The day's peak was the highest since Oct. 14 when the dollar fetched 109.87 yen in Tokyo.

The euro was quoted at 1.2115-2117 dollars and 132.99-133.03 yen, compared with 1.2159-2169 dollars and 132.83-93 yen at 5 p.m. Monday in New York.

Source: Xinhua