January 29, 2014 / 2:05 PM / in 4 years

FOREX-Dollar weakens more versus yen as U.S. yields fall

NEW YORK, Jan 29 (Reuters) - The dollar weakened further against the yen on Wednesday as lower U.S. bond yields reduced the relative appeal of U.S. investments versus their Japanese counterparts.

The greenback fell to a session low of 102.21 yen in early New York trading, down 0.7 percent from late on Tuesday. It still held above a seven-week low against the yen set on Monday due to jitters over financial woes in Argentina, Turkey and other emerging markets.

The yield on benchmark 10-year Treasuries fell to 2.722 percent, down about 3 basis points from Tuesday’s close.

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