NEW YORK Nov 16 The U.S. dollar extended gains against the Japanese yen on Friday to hit a session high on expectations the Bank of Japan will be more aggressive in policy easing.
Overall risk sentiment improved, with U.S. stocks turning positive on news that congressional leaders said their meeting with President Obama about the "fiscal cliff" was constructive.
If Congress and the White House cannot reach a debt and deficit reduction deal by the end of the year it will unleash massive spending cuts and tax increases that some believe have the potential to tip the U.S. economy back into recession.
The dollar rose as high as 81.38 yen. It last traded at 81.36, up 0.3 percent on the day, according to Reuters data.
Trending On Reuters
Indian manufacturing activity expanded at its fastest pace in six months in July as new export orders accelerated, a business survey showed. Full Article