LONDON, Dec 8 (Reuters) - The yen tumbled on Monday, hitting its lowest level against higher-yielding currencies including the Australian dollar, the euro and sterling in roughly a week due to a slight pullback in risk aversion which boosted European shares.
The euro rose more than 2 percent to 120.98 yen, its highest level since the start of the month, while the Australian dollar surged as much as 4 percent to 62.66 yen, its strongest since late November.
The dollar rose roughly 1 percent to 93.91 yen.
"We're seeing a follow-through of the risk-positive move from the weekend," said a trader in London, adding that a 5.6 percent climb in European shares was also helping to push the yen lower.
