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Markets

Dollar extends gains vs yen, hits 3-month high

Published October 22, 2012 Updated October 22, 2012 07:59am
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By Imad Uddin
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DollarSINGAPORE: The dollar hit a three-month high against the yen on Monday, as the yen remained pressured by persistent speculation that the Bank of Japan may decide on more monetary stimulus at a policy meeting next week.

The dollar climbed to as high as 79.680 yen on trading platform EBS, its highest level since mid-July, and last stood at 79.650 yen, up 0.4 percent from late US trade on Friday.

The dollar's rise gradually gained momentum after it breached resistance at its 200-day moving average near 79.44 yen earlier on Monday.

Copyright Reuters, 2012

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