Dollar rises to 20-month high versus Japanese yen

LONDON Wed Dec 19, 2012 6:47am EST

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LONDON Dec 19 (Reuters) - The dollar extended gains against a broadly weak Japanese yen on Wednesday, hitting a 20-month high on expectations the Bank of Japan will unveil more monetary easing on Thursday.

The dollar rose 0.4 percent on the day to hit 84.58 yen on EBS trading platform, its highest since April 2011.

Traders said market participants targeted an options barrier at 84.50 yen, adding that stop loss buy orders were triggered once it rose above that level. A further options barrier was reported at 85.00 yen.


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