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Japan yen nears all-time high versus U.S. dollar *PIC*

Japan yen nears all-time high versus U.S. dollar ( USDYEN ) (by Myra P. Saefong)

SAN FRANCISCO (MarketWatch) -- The Japanese yen neared its all-time high against the U.S. dollar Wednesday. The dollar (cjpy) bought as little as 79.81 yen. The yen's all-time high is 79.75 from 1995. "The problem is that as the fallout from the earthquake is creating a drag on stocks," said Andrew Wilkinson, senior market analyst at Interactive Brokers. "Selling by Japanese corporations is finding its way back home through dollar sales and purchases of yen." At last check, the dollar bought 80.09.