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Dollar, euro slip to session lows vs yen

Tue Jul 14, 2009 10:53am EDT

NEW YORK, July 14 (Reuters) - The dollar and euro both slipped to session lows against the yen on Tuesday as U.S. stocks turned negative, cooling optimism seen after Goldman Sachs earnings and U.S. retail sales data beat expectations.

Currencies

The dollar fell to 92.72 yen JPY=, a session low according to Reuters data, and was down about 0.2 percent on the day. The euro traded at 129.40 yen EURJPY=, down 0.4 percent, after hitting a session trough at 129.35 yen.

The yen tends to gain when risk aversion rises and as investors unwind positions in stocks and other higher-risk assets, many of which were financed with cheaply-borrowed yen. (Editing by Theodore d'Afflisio)

Currencies


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