Dollar falls on growth doubt as yen rises

Tokyo

THE dollar fell against the yen for a third day, the longest streak in a month, after data raised concern that the US economic recovery has plateaued.

The yen rose versus most of its 16 major peers as trading patterns signalled its recent declines were excessive amid speculation that traders are reducing bearish positions into month-end. An index of the US currency was little changed as a gauge of whether US economic data has beaten or fallen short of forecasts slid to the lowest level since August.