Yen drops to 2-1/2 yr low versus U.S. dollar

LONDON Mon Feb 4, 2013 2:47pm IST

LONDON Feb 4 (Reuters) - The dollar rose to a 2-1/2 year high against the beleaguered yen on Monday on buying by a U.S. bank and as more investors sold the Japanese currency on expectations that the Bank of Japan would ease monetary policy further in the near term.

The dollar rose to 93.135 yen, its highest level since mid-2010, and rising past a reported option barrier at 93 yen. Traders cited more option barriers at 93.25 and 93.50 yen with a large one at 94 yen.

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