NEW YORK, Oct 15 (Reuters) - The dollar and euro both pared losses against the yen on Wednesday after the European Central Bank said it would extend a series of efforts to boost liquidity until the end of 2009. The moves, which include a plan to offer U.S. dollar liquidity through foreign currency swaps, eased risk aversion, which tends to benefit the low-yielding yen at the expense of the euro and dollar. The dollar pared losses to trade at 101.40 yen , from about 101.20. The euro was at 138 yen compared with about 137.60 yen earlier. Both were still down against the yen on the day. The euro also pared losses against the dollar to trade flat around $1.3600 . "That news out of the ECB looks to be behind the pop in euro as more dollar supply means a weaker buck all else being equal," said a Forex.com trader in Bedminster, New Jersey. "These measures, however, have not had a really meaningful impact so far, so a reversal here is quite probable." (Reporting by Steven C. Johnson; Editing by James Dalgleish)

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