LONDON: The euro rose to a six week high against the safe haven yen on Friday, buoyed by growing expectations of decisive action by the European Central Bank to lower borrowing costs for Spain and Italy.
Those expectations got a lift after German Chancellor Angela Merkel voiced support for the ECB's crisis-fighting strategy.
The euro rose to 98.263 yen, its highest level since early July, extending gains after it broke above its 55-day moving average of 97.997.
