LONDON, June 8 Reuters The euro hit a sevenyear peak against the yen on Wednesday, getting a lift after an upward revision to first quarter growth and ahead of a European Central Bank meeting on Thursday that is likely to pave the way for rate hikes later in the year.

The ECB is set to end its bond purchases this month, meaning rate hikes can commence in the second half of 2022, leaving the Bank of Japan BoJ standing alone amongst its peers with its ultraloose monetary policy.

The yen has now fallen for 10 consecutive trading sessions against the euro, its longest losing streak in eight months, and reached a sevenyear low of 143.89 per euro in European trade.

The euro gained 0.2 against a broadly stronger dollar at 1.07225, after earlier trading lower by 0.3, as euro zone first quarter economic growth was revised higher.

EURUSD has held up quite well in the face of this week39;s dollar strength, ING analysts said, noting that the prospect of a hawkish ECB had supported the euro.

Money markets are now pricing in 75 basis points of rate increases from the ECB by September, implying traders expect a 50basispoint hike at either the July or September meeting.

Meanwhile, the Federal Reserve looks all but set to raise its interest rate by 50 basis points for a second consecutive meeting next week, in contrast to the BoJ, which has shown no signs of ending its easy policy stance.

The U.S. 10year yield rose 4 basis points, consolidating around the 3.0 mark after breaking…