NEW YORK Nov 16 The U.S. dollar extended gains against the Japanese yen on Friday to hit a session high, putting the greenback on track for its best weekly performance since mid-February on expectations the Bank of Japan will be more aggressive in policy easing.
The dollar rose as high as 81.29 yen. It last traded at 81.26, up 0.2 percent on the day, according to Reuters data.
The dollar strengthened more than 2 percent during the previous two sessions, its biggest two-day rally since October 2011. Japanese Prime Minister Yoshihiko Noda paved the way for a snap election on Dec. 16. The lower house of parliament was dissolved on Friday.
Trending On Reuters
The Lok Sabha on Thursday backed a new bankruptcy code, a crucial step towards establishing a debt resolution regime to strengthen the hands of banks seeking to recover $120 billion in troubled loans. Full Article