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Euro rises to 5-year high against yen
November 29, 2013 / 1:05 AM / 4 years ago

Euro rises to 5-year high against yen

TOKYO, Nov 29 (Reuters) - The euro rose to a five-year high against the yen on Friday, as the Japanese currency faced heavy pressure on expectations it will be used as the funding currency of choice for carry trades given Japan’s commitment to easy monetary policy.

The euro rose to as high as 139.38 yen, its highest level since late 2008. The dollar also hit six-month high of 102.41 yen.

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