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
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.