Reuters: US Dollar Report: Dollar falls broadly, down more than 1 pct versus yen

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Dollar falls broadly, down more than 1 pct versus yen May 29th 2013, 11:13 LONDON | Wed May 29, 2013 7:13am EDT LONDON May 29 (Reuters) - The dollar weakened broadly on Wednesday, losing more than 1 percent on the day against the yen and dropping to a session low against the euro. The dollar fell 1.4 percent to hit a session low of 100.965 yen, taking it closer to last week's trough of 100.59 yen. Traders said weak equity markets encouraged investors to buy the yen, which is seen as a safe haven and usually gains when risky assets like equities fall. European equities were last down more than 1.5 percent. The euro rose 0.8 percent to hit the day's high of $1.29775, extending gains after stop loss buy orders were triggered earlier on the break above $1.2910, traders said. Analysts said the euro was helped as data showed a rise in regional German inflation which dampened concerns about euro zone monetary policy easing.

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