TOKYO, Aug 15 (Reuters) The euro slipped to a six-week low against the dollar on Wednesday and high

TOKYO, Aug 15 (Reuters) The euro slipped to a six-week low against the dollar on Wednesday and high-yielding currencies stayed weak as investors continued to unwind risky positions on concerns that fallout from the U.S. subprime problems is spreading to other countries.

Such worries kept simmering on news that Canadian trust Coventree Inc. had been affected by turmoil in the U.S. subprime mortgage market, while Sentinel Management Group Inc. in the United States sought to prevent clients from withdrawing cash from investments.

Concerns that the days of easy credit are ending have frozen demand for risky positions such as the yen carry trade, and analysts said high-yielding currencies that have benefited from the strategy would stay under selling pressure.

''High-yielders are vulnerable to fall on any bad news,'' said Shogo Nagaya, forex manager at Nomura Securities.

He added that moves in the Tokyo market may be exaggerated due to limited liquidity at the peak of the Japanese summer holiday season.

The euro nudged down to $1.3523 from $1.3533 in late New York trade to hit its lowest level since late June.

The single currency stayed under pressure as investors reckoned that market volatility in recent weeks and losses suffered by European banks stemming from the subprime mortgage market may prevent the European Central Bank from lifting interest rates next month.

The euro fell to 158.79 yen early in the session to hit its lowest level since early April.

The dollar was little changed at 117.45 yen hovering within sight of a four-month low of 117.19 yen touched last week.

Sterling slipped 0.25 percent to 234.15 yen its lowest since mid-April, while the New Zealand dollar fell around 0.3 percent to 85.15 yen also hitting its lowest level in more than four months.

The yen was supported by a 1.6 percent fall in the Nikkei stocks average early in the session, which reminded investors that risk demand remained low.

Reuters SBA VP0625