November 26, 2012 / 12:25 AM / 6 years ago

Euro rises to 7-month high against yen on hopes for Greece

TOKYO, Nov 26 (Reuters) - The euro climbed to its highest level against the yen since April, buoyed by hopes that Greece will secure further funds to meet its debt obligations.

German Chancellor Angela Merkel said she was confident a deal could be reached to release aid to that country, while the French finance minister said an agreement was close as euro zone finance ministers prepared to meet later on Monday.

The yen also remained pressured by expectations that the Bank of Japan will be pushed to take more drastic monetary easing steps.

The euro rose as high as 107.10 yen on trading platform EBS, the single currency’s highest level since late April, and last traded at 107.04 yen, up 0.2 percent from late U.S. trade on Friday.

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