Reuters: US Dollar Report: Euro rises to one-month high vs yen

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Euro rises to one-month high vs yen Jun 21st 2012, 11:26 LONDON, June 21 | Thu Jun 21, 2012 7:26am EDT LONDON, June 21 (Reuters) - The euro rose to a one-month high versus the yen on Thursday as investors sold the Japanese currency on expectations that Japanese lawmakers may vote favourably for tax hikes, giving the Bank of Japan more room to ease monetary policy. The euro extended gains to rise to 101.53 yen on trading platform EBS, its highest level since May 23 and up 0.4 percent on the day. The euro was still 0.1 percent lower on the dollar at $1.2695, hurt by grim German data and higher cost of borrowings for Spain.

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