July 16, 2012 / 9:28 AM / 5 years ago

Euro drops to six-week low versus yen

LONDON, July 16 (Reuters) - The euro fell to a six-week low against the yen on Monday as concerns about euro zone debt and high peripheral bond yields fanned demand for the safe haven Japanese currency.

The euro dropped 0.7 percent on the day to 96.306 on trading platform EBS, the lowest level since June 1. Support for the euro was expected to be the low of 95.59 yen hit on that day, market players said.

Traders said some of the euro’s weakness could be related to Japanese investors receiving coupon payments on their European bond holdings.

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