Yen extends losses, hits 20-month low vs dollar

Last Updated: Wed, Dec 26, 2012 03:54 hrs

The yen fell to a 20-month low against the dollar on Wednesday, pressured by expectations that incoming Japanese Prime Minister Shinzo Abe would push the Bank of Japan into more forceful monetary easing.

The dollar rose as high as 85.08 yen on trading platform EBS, the greenback's highest level since April 2011, and last stood at 85.03 yen, up 0.4 percent on the day.

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