* Yen holds broad gains vs dollar, euro, Aussie
* Risk aversion hurts dollar/yen, U.S. trade data in focus
* French political woes hit euro, other EU election risks
By Shinichi Saoshiro
TOKYO, Feb 7 The dollar stood near a 10-week low
against the yen early on Tuesday as investors sought refuge in
the safe-haven Japanese currency, while the euro languished on
French political woes.
The dollar was little changed at 111.730 yen, in
close range of 111.625, its lowest since Nov. 29 plumbed
The greenback sank 0.7 percent against the yen the previous
day on rising risk aversion, with U.S. Treasury yields falling
in tandem with Wall Street shares and crude oil prices.
The U.S. currency has fallen 4.5 percent against the yen so
far this year, hurt in large part by U.S. President Donald
Trump's protectionist trade rhetoric.
"With the protectionist trade stance the United States is
seemingly poised to adopt now a key market theme, the December
U.S. trade data due later today garners attention," said
Masafumi Yamamoto, chief FX strategist at Mizuho Securities in
"A trade deficit that exceeds forecasts would weigh on the
dollar by raising caution in the market towards top U.S.
officials, who may speak out against perceived dollar strength."
The euro fetched 120.145 yen, in close proximity
of a two-month low of 119.975 set overnight when it shed 1.1
The common currency was steady at $1.0748 after
dropping 0.3 percent overnight. The decline pulled the euro
further away from an eight-week high of $1.0829 scaled on
Thursday against a broadly weaker dollar.
The euro staggered on Monday after France's far-right
National Front leader Marine Le Pen launched her presidential
bid, vowing to fight globalisation and take France out of the
euro zone. French government bond yields rose sharply amid
perceived risks to the already strained European political
The euro wobbled against such a backdrop, with investors
also having to factor in elections in other parts of the
Dutch and German elections will be held in March and
September. Another presidential election looms in Italy, even as
former Italian prime minister Matteo Renzi said he was willing
to shelve his push for early voting.
The Australian dollar was down 0.2 percent at $0.7646
following the drop in commodities such as crude oil the
The Aussie inched down to 85.43 yen, adding to
losses from the day before when it shed more than 1 percent
against the Japanese currency.
(Editing by Jacqueline Wong)