TOKYO (Reuters) – The dollar rose above 110 yen for the first time since August 2008 on Wednesday, continuing to ride on bullish momentum against its peers generated by gains against a flagging euro.
The dollar had jumped more than five percent against the yen last month, buoyed by factors including enhanced prospects for an early rate hike by the Federal Reserve.
The dollar was up 0.4 percent at 109.98 <JPY=> after touching 110.09.
The euro was down 0.2 percent at $1.2612 <EUR=>, having retreated to a fresh two-year low of $1.2571 overnight as a further slowdown in euro zone inflation intensified pressure for more stimulus from the European Central Bank.
(Reporting by Shinichi Saoshiro; Editing by Michael Perry)