LONDON Dec 12 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.
Trending On Reuters
With the crucial GDP data scheduled to be announced along with key corporate results, volatility is expected to prevail in the upcoming week. Disappointment on these fronts may push the Nifty down to the 7,200-7,500 range. Once we witness stability and consolidation, investors should increase their exposure, says Ambareesh Baliga. Full article