RTRS: Dollar extends losses vs yen as U.S. stocks fall
NEW YORK (Reuters) - The dollar extended losses against the yen on Wednesday as risk aversion increased with U.S. stocks posting sharp losses.
Remarks from Treasury Secretary Henry Paulson suggesting that the government was backing away from purchasing troubled mortgage assets under the $700 billion bailout package have further diminished the market's risk appetite.
The dollar fell as low as 94.49 yen, down around percent, and it last traded at 95.02 yen. The euro also had fallen 3 percent against the yen at one point, hitting 118.10 and was now at 119.11
(Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)
