Yen slides as investors ramp up selling before BoJ meet

LONDON Thu Jan 17, 2013 5:50am EST

Related Topics

LONDON Jan 17 (Reuters) - The Japanese yen extended losses on Thursday as investors built bets against the currency before a Bank of Japan policy meet next week where it is widely expected to ease monetary policy and perhaps double its inflation target.

The dollar rose more than 1 percent on the day to 89.40 yen as real money investors bought the U.S. currency and rising past stop loss orders at 89.20 yen. Traders said it was on track to test its 2-1/2 year high of 89.67 yen struck on Monday.

The euro's gains were even sharper, up 1.7 percent on the day at 119.49 yen.