Yen hits 2-year low on new Japan govt expectations

SINGAPORE Wed Dec 26, 2012 8:16pm EST

SINGAPORE Dec 27 (Reuters) - The yen hit a two-year low against the dollar on Thursday, reflecting expectations that the new government of Prime Minister Shinzo Abe will push to weaken Japan's currency and implement aggressive stimulus.

The dollar rose as high as 85.78 yen on trading platform EBS as of 0113 GMT, the greenback's highest level since September 2010. The dollar last stood at 85.75 yen, up 0.2 percent on the day.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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