Euro, Hong Kong dollar, US dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration. Photo: Reuters
Euro, Hong Kong dollar, US dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration. Photo: Reuters

The dollar broke through the 110 yen barrier Tuesday for the first time in a year as optimism about the global economic outlook and rising US bond yields see investors turn away from the safe haven Japanese unit.

The greenback hit 110.18 yen in afternoon trade as investors grow increasingly confident that world growth will pick up pace this year thanks to huge stimulus spending, particularly by the United States.

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