Dollar benefits from strong BoA results, yen hurt

LONDON (Reuters) - The dollar trimmed earlier losses versus major currencies on Monday, and the euro hit a record high versus the safe haven yen as risk appetite was bolstered by stronger than expected earnings from Bank of America.

Bank of America (BAC.N) posted $0.72 earnings per share in the second quarter, beating a Reuters Estimates forecast of $0.48.

"Earnings were better than expected...The results could set the stage for equity performance for the rest of the week giving tailwinds for the dollar," said John Hydeskov, senior FX analyst at Danske Markets.

The euro was at $1.5867 by 1106 GMT (7:06 a.m. EDT), still a touch firmer on the day, but about 20 ticks lower than before the BoA results.

The dollar erased earlier losses to trade at 106.94 yen, while the euro hit a record high at 169.75 yen according to Reuters data.

(Reporting by Simon Falush and Toni Vorobyova)