Dollar losses accelerate versus yen and euro

NEW YORK, July 11 Thu Jul 11, 2013 10:54am EDT

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NEW YORK, July 11 (Reuters) - The U.S. dollar's losses versus the yen and euro accelerated in mid-morning New York trade on Thursday as investors continued to shed bullish dollar bets on the greenback in the wake of comments made by Federal Reserve Chairman Ben Bernanke.

The euro last traded at $1.3058, up 0.7 percent on the day, but below the session high of $1.3201.

The dollar last traded at 98.74 yen, down 0.9 percent, but above the session low of 98.27 yen, according to Reuters data.

The greenback has been highly correlated to Treasury yields, which move inversely to price. Treasuries have rallied on perceived dovish comments from Bernanke, who on Wednesday sought to assuage market fears by saying the Fed would continue its accommodative monetary policy due to low inflation and weakness in the labor market.

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