Reuters: US Dollar Report: Euro extends gains vs yen to hit highest level since Aug 2011

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Euro extends gains vs yen to hit highest level since Aug 2011 Dec 27th 2012, 13:09 LONDON | Thu Dec 27, 2012 8:09am EST LONDON Dec 27 (Reuters) - The euro extended gains to hit its highest in nearly 17 months against the yen on Thursday as speculators and investors sold the Japanese currency on expectations of further aggressive monetary easing by the Bank of Japan. The euro was also higher against the dollar, trading 0.4 percent higher at $1.3280 on steady buying by macro funds amid waning concerns about the euro zone debt crisis. The euro rose 0.7 percent to 114 yen on trading platform EBS, its highest level since August 4, 2011 when it hit a peak of 114.16 yen. The dollar was also trading near a two-year high against the yen at 85.82 yen.

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