LONDON, March 6 The yen came under renewed
pressure in the European session on Thursday, falling to a
six-week low against the euro and trading near a two-week trough
against the dollar.
Traders cited steady yen selling after advisors to Japan's
$1.26 trillion public pension fund said the fund need not cling
on to the safety of Japanese government bonds, which offer
paltry returns, in yet another sign that it may shift more money
into stocks and other risky assets.
The euro rose 0.65 percent to 141.375, its
highest level since January 24.
The dollar was 0.4 percent higher at 102.74 yen,
trading at its highest since Feb. 21. Near term resistance is at
its 55-day moving average of 103.22 yen.