NEW YORK Dec 26 The euro rose more than one
percent against the yen and hit session highs versus the dollar
on Wednesday as selling of the Japanese currency accelerated in
thin market conditions.
There was no fundamental catalyst for the latest move in the
euro as the trend of selling the yen continued on expectations
of further Japanese monetary easing. Traders said gains in
euro/yen carried over to other euro pairs, particularly
The euro rose as high as 113.13 yen, its highest
since early August 2011. It last stood at 113.04, up 1.2 percent
on the day.
Against the dollar, the euro climbed to the day's peak at
$1.3254. It last traded at $1.3251, up 0.5 percent.