December 27, 2012 / 3:01 PM / 5 years ago

U.S. dollar trades above 86 yen, first time since August 2010

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A picture illustration shows a 100 Dollar banknote laying on one Dollar banknotes, taken in Warsaw, January 13, 2011.Kacper Pempel

NEW YORK (Reuters) - The U.S. dollar traded above 86 yen on Thursday for the first time since August 2010 on expectations that Japan's new prime minister would push for policies to weaken the Japanese currency.

Traders also cited option barriers being breached at the 86 yen level. The dollar rose as high as 86.15 yen, its highest since mid-August 2010. It last stood at 86.10, up 0.6 percent on the day

Reporting by Gertrude Chavez-Dreyfuss; Editing by Chizu Nomiyama

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