LONDON: The dollar extended gains against the Japanese yen to rise to a one-month high on Thursday, supported by rising yields on US Treasuries after the Federal Reserve delivered a more modest dose of monetary easing than some had expected.
The yen was also under pressure on expectations that Japanese lawmakers may vote favourably for tax rises, giving the Bank of Japan more leeway to ease monetary policy. .
The dollar rose to a high of 79.958 yen on trading platform EBS, its highest since May 23, and up 0.5 percent on the day. Japanese exporter offers are cited at 80 yen with stop-loss orders reported above 80.10 yen, traders said.
The euro was also hovering near a one-month high against the yen, trading at 101.301 yen, up 0.3 percent on the day.
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