Dollar falls against the Yen in Asia (AP) (26-02-2008)

TOKYO (AP) -- The dollar was again down versus the yen Tuesday in Asia on selling by Japanese exporters and U.S. bank traders sold as concerns are rekindled over the health of U.S. bond insurers.

The dollar was trading at 107.92 yen mid-afternoon in Tokyo, down from 108.07 yen late Monday in New York. The euro fell to US$1.4813 from US$1.4825.

The dollar remains vulnerable against the yen despite a decision overnight by Standard & Poor's to maintain its top ratings on troubled U.S. bond insurers, traders said.

Despite a rise of almost 190 points on Wall Street on Monday, Japanese stocks declined, with the Nikkei 225 index falling 0.7 percent to end at 13,824.7. Its fall underscored doubts that S&P's move will help bond insurers regain their footing and lessen the risk of a credit crunch in the U.S., traders said.

The dollar was mixed against other Asian currencies. It fell 0.42 percent against the Indonesian rupiah to 9,092; it rose 0.05 percent against the South Korean won to 947.2.

 Source AP