* Yen hits highest since February vs dollar

* Dollar up vs Aussie, sterling and euro

* G8 draft statement doesn't mention FX; Q2 earnings eyed (Recasts, updates prices, adds detail)

NEW YORK, July 8 (Reuters) - The yen and U.S. dollar climbed broadly on Wednesday as risk aversion rose on uncertainty about the global economy and U.S. corporate earnings.

Gains in the yen multiplied after it traded through key technical levels on the dollar, prompting investors to unwind any carry trades where they had borrowed in yen to buy higher-yielding currencies.

As they sold the high-yielding currencies, they bought back yen.

The dollar was also doing better after a Japanese official said leaders of the Group of Eight nations did not discuss the dollar's role as the key global currency at Wednesday talks on the economy. For related news click [ID:nMOB000013].

News that Chinese President Hu Jintao, who was due to attend the summit in Italy, was returning home to deal with unrest in the western region of Xinjiang had already dampened speculation that any currency comment would be added. [ID:nPEK89647].

Investors then focused on whether Chinese economic growth will be a driver of the global economy, given internal problems.