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Dollar hits 2-1/2 month low versus yen
May 9, 2012 / 9:11 AM / in 5 years

Dollar hits 2-1/2 month low versus yen

LONDON, May 9 (Reuters) - The dollar fell to a 2-1/2 month low against the yen on Wednesday as concerns that political uncertainty in Greece could undermine euro zone austerity measures fuelled demand for the safe haven Japanese currency.

The dollar dropped around 0.3 percent on the day to 79.61 yen, its lowest level since Feb. 21.

Traders said model funds sold the dollar through 79.70 yen, the 100-day moving average, and stop loss orders were seen around 79.50 yen.

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