Euro extends broad losses, nears 11-mo low vs dollar

LONDON (Reuters) - The euro resumed its broad selloff on Friday, particularly against the yen and erasing all its earlier gains against a resilient dollar as another downdraft in oil prices lifted the greenback from its lows.

At 0850 GMT the euro was down 0.1 percent against the dollar at $1.4235, falling as low as $1.4221, close to the 11-month low of $1.4215 struck the previous day.

The euro was down 0.4 percent against the yen at 151.40 yen, and was down 0.2 percent against the UK pound at 80.75 pence.

A German bank was said to be a notable seller of euros on Friday, and a large US investment bank a large seller over the past 24 hours, traders said.

"We've got the oil price coming down again and that's helping the dollar. There's also general pessimism on the euro zone outlook," Rabobank strategist Jeremy Stretch said.

"Trichet did not talk up the prospects for the euro zone and that plays into the theme that the place not to be is in euro's," he said, referring to the European Central Bank President.