Dollar hits four-year yen low

The dollar fell to its lowest in more than four years against the yen and dropped versus the euro after Federal Reserve chairman Alan Greenspan said foreign investors will tire of financing the record current-account deficit.

Against the yen, the dollar fell to $102.98 at 9:36am in New York from $104.18 late yesterday, according to electronic currency dealing system EBS. It fell as low as 102.92, the weakest since April 2000.

The US currency also declined to $1.3044 per euro from $1.2961.