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U.S. dollar tumbles to session low versus Japanese yen
June 12, 2013 / 3:13 PM / 5 years ago

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

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.

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