The Japanese yen has hit its highest level against the US dollar since the end of the Second World War. The yen climbed as high as 76.25 against the dollar in US trading on Wednesday. Today, in Asia, it was closer to 79.42. The Nikkei 225 index shed 2.7 per cent to 8,845 on concerns about the impact of a strong yen on exporters' profits. G7 finance ministers have called a meeting today to discuss how to deal with global market volatility.