FOREX-Dollar hits 2-month low below 105 yen

Mon Sep 15, 2008 4:13am EDT
 
[-] Text [+]
 LONDON, Sept 15 (Reuters) - The dollar extended its fall to
below 105 yen on Monday on worries about the U.S. financial
system after Lehman Brothers LEH.N filed for bankruptcy.
 The dollar fell as low as 104.98 yen JPY= -- a level last
seen in July 17 -- and was trading at 105.01 yen at 0809 GMT,
Reuters data showed.
 "What we're seeing is a rise in risk aversion because nobody
really knows if there is a systemic problem in the U.S.
financial system," said Lutz Karpowitz, forex strategist at
Commerzbank.
 This is the dollar's largest one-day fall against the yen
since February 2002. A daily loss of 3 percent would be its
largest slide in a decade.
 (Reporting by Ian Chua)

 

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