Dollar rises to 8-month high versus struggling yen
LONDON Dec 12 (Reuters) - The U.S. dollar rose to its highest in eight months against the yen on Wednesday boosted by bets the Bank of Japan will take more aggressive easing steps after a likely victory of the Liberal Democratic Party in the country's election on Sunday.
The dollar rose 0.4 percent on the day to 82.895 yen, its highest level since early April on reported buying by macro funds. Traders cited option barriers at 83 yen.
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Credit Suisse upgrades M&M to "outperform" from "neutral," saying its four-wheeler autos and commercial vehicles will benefit from even a short-lived economic recovery, while the auto-maker has "undemanding valuations." Full Article