StockMarketWire.com - The US dollar and British pound made heady inroads against a softer Japanese yen as traders bet the Bank of Japan will step up its monetary easy policy after the December elections.
At 1042 GMT, the euro was up 0.38% at 107.64 yen, while the greenback was up 0.43% at 82.25 yen.
Even allowing for the Japanese unit's softness, the US dollar and pound are buying yen at levels near those seen in March, which were followed by run-up that began in mid November.
Last week, Japan's Prime Minister, Yoshihiko Noda, approved a $10.7 billion stimulus packaged ahead of the December 16 election, which his party is expected to lose.
The yen was battered in November after opposition leader Shinzo Abe, who is expected to become prime minister, said he would adopt a more aggressive monetary easing policy.
Story provided by StockMarketWire.com
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