Dollar hits session high vs yen after Spain bank test result

by on September 28, 2012 4:39 pm BST

NEW YORK, Sept 28 |
Fri Sep 28, 2012 12:39pm EDT

(Reuters) – The dollar extended gains
against the Japanese yen on Friday after news of Spain’s bank
stress test emerged.

Spain’s banks would need 59.3 billion euros ($76.3 billion)
in extra capital to ride out a serious economic downturn, an
independent audit of the country’s 14 main banks by consultancy
Oliver Wyman showed on Friday.

The dollar hit a session high of 77.96 and last
traded at 77.90, up 0.4 percent on the day, according to Reuters