U.S. dollar tumbles to session low versus Japanese yen

NEW YORK, June 12 Wed Jun 12, 2013 8:41pm IST

NEW YORK, June 12 (Reuters) - U.S. dollar losses versus the Japanese yen accelerated in volatile mid-morning New York trade on Wednesday as investors sought the Japanese currency's safety.

The dollar fell as low as 95.61 yen and last traded at 95.84 yen, down 0.2 percent on the day. It had been trading higher against the yen in early trade.

"The drop in dollar/yen coincided with option expiries at 10 a.m., but street flows are light," said Brad Bechtel, managing director at Faros Trading in Stamford Connecticut.

Headlines out of Greece may have also contributed to risk aversion, he said.

Greece's Socialist PASOK party on Wednesday called on Prime Minister Antonis Samaras to keep his fragile three-party government united after the state broadcaster's closure triggered a backlash from junior partners in the coalition.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

India-WTO Standoff

India-WTO Standoff

India threatens to derail WTO deal, prompts angry U.S. rebuke  Full Article 

Economic Pulse

Economic Pulse

New govt promises low and stable tax regime for economic revival.  Full Article 

IPO Probe Ends

IPO Probe Ends

Facebook says SEC's IPO probe ends, extending WhatsApp closing date  Full Article 

World Stocks

World Stocks

Goldman Sachs downgrades stocks to neutral for short term  Full Article 

Disappointing Results

Disappointing Results

Amazon's far-reaching ambitions, lack of profits, unnerve investors  Full Article 

Global Growth

Global Growth

IMF cuts outlook, warns of stagnation risk in rich nations  Full Article 

Market Eye

Market Eye

Nifty retreats from record highs on profit taking.  Full Article 

Waning Enthusiasm

Waning Enthusiasm

Markets' post-election enthusiasm lost on consumers.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage