NEW YORK, Dec 26 (Reuters) - 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 euro/dollar.
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.