Yen extends drop, hits 7-month low vs dollar

SINGAPORE Sun Nov 18, 2012 7:09pm EST

SINGAPORE Nov 19 (Reuters) - The yen hit its lowest level in nearly 7 months against the dollar on Monday as expectations of more monetary stimulus by Japanese authorities after next month's election made holding the already low-yielding currency even less appealing.

The dollar rose to as high as 81.59 yen on trading platform EBS, its highest level since late April, and last stood at 81.50 yen, up 0.2 percent from late U.S. trade on Friday.