* U.S. dollar and yen down on the ropes, euro above $1.50

* Leveraged carry trades and commodities boost Aussie

By Anirban Nag

SYDNEY, Nov 10 (Reuters) - The U.S. dollar was under renewed selling pressure on Tuesday while the euro and higher-yielding currencies revisited recent highs as investors piled on to leveraged carry trades.

Expectations that U.S. interest rates are likely to stay near zero are encouraging investors to use it as funding for carry trades in higher yielding assets.

A Group of 20 statement at the weekend that the extraordinary stimulus would stay in place until a global recovery was well established suggested easy money would continue to chase riskier assets like stocks, commodities and growth-linked currencies like the Australian and New Zealand dollars.

An index of the dollar against six major currencies was near its lowest level since August 2008, at 74.969, having dropped to as low as 74.93. =USD .DXY.

"While U.S. dollar bulls are licking their wounds, equity and every-thing risky investors are having a field day," said Matthew Strauss, senior currency strategist at RBC Capital. "The bounce off 74.93 (for the dollar index) looks more like a pause than a corrective bounce."

The euro was at $1.5005 EUR=, up from $1.4993 late in New York on Monday where it reached as far as $1.5020 and not far from its 2009 high of $1.5061. Traders said there are a number of option strikes lurking around the $1.5025 level.