LONDON: The dollar fell against the yen and the euro, as investors cut back on some of their largest bets, including those for a stronger U.S. currency, on concerns about Greece’s future in the eurozone and tensions in Ukraine.
The dollar fell 0.4% against the Japanese currency to ¥118.63 in late-afternoon New York trading. The euro climbed 0.1% to $1.1327, hovering just above its lowest level against the greenback since September 2003.
The Wall Street Journal Dollar Index, which measures the dollar against a basket of the most widely traded currencies, slid 0.2% to 85.63.
It was a turnaround from Friday, when the dollar rallied against its rivals following a robust U.S. jobs report. For many investors, a stronger dollar has been a sure bet as the U.S. moves toward economic recovery and higher interest rates, while the eurozone and Japan apply stimulus efforts that weaken their currencies.
But tough talk from Greece on Monday fanned concerns that the nation won’t find a solution through negotiations with its multinational creditors that would allow it to remain in the eurozone. Greece’s new government said it would cancel about one-third of the debt-reduction and economic-overhaul measures that the country had agreed to when it accepted international aid.
