Markets

Dollar and euro fall by more than 2pc against the yen

Published May 23, 2013 Updated May 23, 2013 09:41am

1 min

By Shoaib Ur Rehman

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LONDON: The dollar and the euro fell by more than two percent against the yen on Thursday as investors opted for safe-haven currencies on increasing prospects the US Federal Reserve might pare back its stimulus programme.

The dollar fell to a near two-week low of 100.83 yen, breaking through stops at 101.25 yen. Traders cited the next support at the 100 yen level.

The euro also slipped by more than two percent against the yen of 129.945 yen, which was its lowest since May 9.

The single currency fell by more than 1 percent against the safe-haven Swiss franc to 1.2420 francs retreating from a two year high of 1.2650 francs.

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