Dollar extends gains vs yen, hits more than two-year high

NEW YORK Mon Dec 31, 2012 12:07pm EST

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NEW YORK Dec 31 (Reuters) - The dollar extended gains versus the yen to hit its strongest level since early August 2010 in midday New York trade on Monday.

The dollar rose as high as 86.66 yen on Reuters data and was last at 86.53, up 0.6 percent on the day.

The yen has come under heavy selling pressure in recent weeks on expectations that Japan's new government will push for aggressive monetary easing.

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