Yen falls sharply after Japan's Noda hints at election next month

TOKYO Wed Nov 14, 2012 1:46am EST

TOKYO Nov 14 (Reuters) - The dollar rose more than 0.5 percent against the yen on Wednesday after Japanese Prime Minister Yoshihiko Noda said he could dissolve the lower house of the parliament on Nov. 16, which suggests that an election will be held next month.

The dollar rose to as high as 79.82 yen, as many in the market believe the election is likely to usher in a new government that will be more aggressive in putting pressure on the Bank of Japan to ease its policy.

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