Dollar extends gains versus yen, hits session high

NEW YORK Fri Nov 16, 2012 10:55am EST

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NEW YORK Nov 16 (Reuters) - The U.S. dollar extended gains against the Japanese yen on Friday to hit a session high, putting the greenback on track for its best weekly performance since mid-February on expectations the Bank of Japan will be more aggressive in policy easing.

The dollar rose as high as 81.29 yen. It last traded at 81.26, up 0.2 percent on the day, according to Reuters data.

The dollar strengthened more than 2 percent during the previous two sessions, its biggest two-day rally since October 2011. Japanese Prime Minister Yoshihiko Noda paved the way for a snap election on Dec. 16. The lower house of parliament was dissolved on Friday.

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