Yen falls broadly as risk sentiment resumes

       The yen slid versus both dollar and euro yesterday as gains in equities boosted risk sentiment, steering investors towards higher-yielding currencies such as the Australian dollar.
       The market refocused on risk-taking in the wake of stronger-than-expected US existing home sales data last Friday and on upbeat comments from Federal Reserve Chairman Ben Bernanke.
       The low-yielding yen tends to fall against higher-yielding currencies when equities rise or economic data strengthen hopes for a recovery in the global economy.
       Nonetheless, central bankers at a conference in Jackson Hole over the weekend warned against a too early exit from super-easy monetary policies.
       "The message is that rates would remain low and liquidity would remain ample, so swings in risk appetite remain a major factor for major currency pairs,"said Michael Klawitter, currency strategist at Commerzbank.
       At 0738 GMT, the dollar rose 0.5% from late US trading on Friday to 94.92 yen,near the session high and pulling away from a one-month low of 93.42 yen hit on trading platform EBS on Friday.
       The euro was up 0.3% at 135.72 yen.The euro pared some early losses against the dollar. It was last down 0.1%at $1.4300.
       Euro zone industrial new orders June,due out at 0900 GMT, are expected to have risen 1.5% from the previous month.
       Traders are keen to see how the euro zone economy is faring especially after higher-than-expected purchasing managers' index readings last week. Germany's Ifo survey will be key this week, analysts said.