Dollar falls to session low against the yen

NEW YORK Wed Feb 6, 2013 9:12am EST

NEW YORK Feb 6 (Reuters) - The dollar fell to a session low against the yen in volatile trade on Wednesday after Tuesday's announcement that current Bank of Japan Governor Masaaki Shirakawa will step down three weeks earlier than planned.

The announcement sparked yen weakness and a peak in the dollar against the yen at 94.06 overnight, the highest since May, 2010.

But the dollar momentum failed to maintain through to the New York session prompting some investors to sell, analysts said.

The dollar was down 0.2 percent on the day at 93.41 yen against the yen, with the session low at 93.31 yen.

Some US$2.46 billion in yen changed hands in the global session on Wednesday, using Reuters Dealing.

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