The dollar weakened against the yen in Asian trade Wednesday, with stronger risk aversion prompting safe haven buying of the Japanese currency following a lackluster reading from the Bank of Japan’s corporate sentiment survey.
The U.S. currency USDJPY, -0.11% slid to as low as ¥119.42 before bouncing back to ¥119.54, compared with ¥120.14 late Tuesday in New York.
The WSJ Dollar Index BUXX, -0.26% a measure of the dollar against a basket of major currencies, was down 0.39% at 87.60 after four consecutive session of gains.
The euro EURUSD, +0.40% was higher at $1.0780 from $1.0732, with short-covering kicking in. The common currency was down at ¥128.87 from ¥d128.92.
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