FOREX-Dollar on defensive before jobs data, Aussie jumps

* Aussie jumps after better-than-expected retail sales

* Gains in Aussie help other yen crosses

* High-yielding currencies rise helped by commodity prices

TOKYO, Jan 7 (Reuters) - The dollar was on the defensive on Thursday after minutes from the Federal Reserve's latest policy meeting suggested the possibility of more stimulus measures for the U.S. economy, while the Australian dollar jumped on strong retail sales data.

The Aussie hit a 15-month high against the yen and a two-year peak against the euro after the data added to the chances of another rise in interest rates as early as February.

Higher commodity prices also helped high-yielding currencies such as the Australian and the New Zealand dollar.

Traders are keen to see the U.S. employment report for December on Friday, which could help shape the outlook for the U.S. interest rates and the dollar's direction.

"Investors are waiting for the U.S. jobs report on Friday but the current climate of the market is one of investors willing to take risk," said Tomohiro Nishida, treasury department manager at Chuo Mitsui Trust and Banking.

The Australian dollar climbed 0.5 percent to $0.9237, after rising as high as $0.9268, its highest in one month. Against the yen, the Aussie jumped to 85.54 yen, its highest since late September 2008.

On the euro, the Aussie hit a new two-year high of 0.6415 euros.

The New Zealand dollar rose 0.6 percent to $0.7420 after touching $0.7433, its highest since late November.

The dollar index, which measures the value of the greenback against a basket of currencies, was down 0.1 percent to 77.415. It lost some ground against the euro the previous day after the release of the Fed minutes.

In the Fed minutes, central bank officials expressed concern that the winding down of the central bank's massive purchases of mortgage securities could hurt the housing market. Some said persistently high unemployment might make it desirable at some point to expand or extend asset purchases.

The euro edged up 0.1 percent to $1.4419 and the dollar was steady at 92.31 yen.

The Japanese currency came under pressure after news of Japanese Finance Minister Hirohisa Fujii's resignation on Wednesday.

Japan's prime minister chose his deputy, Naoto Kan, as finance minister the previous day after the elderly holder of the post resigned, raising questions as to whether the government could rein in spending in the face of a frail economy and ballooning debt. (Reporting by Kaori Kaneko; Editing by Edwina Gibbs)