8 May 2006, 17:47  Dollar falls to 8-month yen low, 1-year euro low

The dollar continued its slide against major rivals Monday, hitting an eight-month low against the yen, on comments from a U.S. official warning Japan and other countries not to prop up the dollar. At the same time, the U.S. currency also touched fresh one-year lows against the euro, British pound and Swiss franc. U.S. Treasury Undersecretary Timothy Adams said at an Asian bank meeting in India late Friday that countries should refrain from intervening in currency markets. "With little US economic data due out at the start of the week, positive momentum may prove difficult to find," said Tim Wilbraham, senior FX dealer at CMC Markets. In early New York trading, the dollar fell as low as 110.97 yen, the lowest level since Sept. 21. It last traded at 111.18 yen, down 1.2%. The euro rose 0.3% to $1.2756, after hitting $.12787, the highest level since May 16

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