Dollar falls below 80 yen; 1st time since March 18
LONDON |
LONDON May 5 (Reuters) - The dollar extended falls against a firmer yen on Thursday, falling below 80.00 yen for the first time since the aftermath of G7 intervention as investors trimmed risk exposure, with equity and commodity markets under pressure.
The yen gained broadly as growing risk aversion prompted investors to pare long positions in riskier and higher-yielding currencies.
The dollar fell 0.9 percent to 79.81 yen JPY= on EBS trading platform.
The euro EURJPY=R also fell 0.9 percent to around 118.31 yen, its lowest in more than two weeks.
(Reporting by London Forex team)
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