WORLD FOREX: Euro, Dollar Decline Vs Yen With Stocks

The euro and dollar declined versus the yen with a fall in risk appetite and U.S. stocks Tuesday morning as Treasury Secretary Timothy Geithner spoke on the U.S. administration's financial rescue plan.

Geithner said options are still being explored for an asset value program, but said that policy must be implemented fast.

The Dow Jones Industrial Average was recently down about 200 points on the day.

"The market really wanted to see some specifics on the toxic asset bank balance sheet issue, which you can argue got us into this mess in the first place," said Dustin Reid, director of foreign exchange strategy at RBS Global Banking & Markets.

However, the euro did recoup losses against the dollar, a sign of stable risk sentiment, as Geithner began to map out other details of the rescue plan.

Late Tuesday morning in New York, the euro was at $1.3049 from $1.3022 late Monday. The dollar was at Y90.95 from Y91.47, according to EBS. The euro was at Y118.68 from Y119.16. The U.K. pound was at $1.4690 from $1.4907, and the dollar was at CHF1.1516 from CHF1.1630.