MW: Dollar falls further against yen in Asian trading
By Michael Kitchen
LOS ANGELES (MarketWatch) -- The U.S. dollar lost ground against the yen in Thursday morning in Asia, falling to 86.45 yen, down from ¥87.11 in late North American trade Wednesday. The currency pair was still above its year-to-date low of ¥86.24, hit on July 16, according to FactSet data. The yen's gain followed remarks by Federal Reserve Chairman Ben Bernanke, who told Congress that the U.S. economy's outlook remained uncertain. The greenback was also lower against the euro. The European currency edged up to $1.2769 from $1.2764 in late Wednesday trading, although it initially fell after Bernanke's comments.
