Dollar hits 4-mth low vs yen on US stock market rout

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TOKYO, Sept 30 | Mon Sep 29, 2008 6:45pm EDT

TOKYO, Sept 30 (Reuters) - The dollar slid to a four-month low against the yen on Tuesday as investors fled risky positions after the U.S. Congress failed to pass a $700 billion bank bailout package, sparking the biggest stock market rout since 1987.

The dollar dropped as low as 103.53 yen JPY= on trading platform EBS, down 0.6 percent from late U.S. trade after having tumbled 1.8 percent on Monday. The yen and Swiss franc are seen as a safe-haven currency in times of financial market turmoil.

(Reporting by Rika Otsuka)

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