NEW YORK, July 11 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
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.