* Euro/dlr hits day's low as stocks fall in early trade
* Yen rallies broadly, dollar climbs on risk aversion
* Bernanke reappointment has limited impact, SNB eyed
(Updates throughout; previous TOKYO)
By Naomi Tajitsu
LONDON, Aug 25 (Reuters) - The euro fell on Tuesday while the yen and the dollar rose as a retreat in European shares from a 10-month high the previous day curbed demand for currencies considered to be high-risk.
European shares fell 0.5 percent, pulling away from their highest level since October hit on Monday, and Chinese shares shed 2.6 percent, prompting traders to sell the euro and sterling.
"Today is a risk-off day as equities are coming off and the dollar is trading a bit stronger," said Carl Hammer, currency strategist at SEB in Stockholm.
But he said the broad trend for elevated risk demand remained intact.
By 0749 GMT, the euro traded 0.2 percent lower at $1.4269, having slipped to the day's low of $1.4254 according to Reuters data, in early European trade.
Traders said Asian names were seen selling the euro against the dollar.
Investors awaited speeches from Swiss National Bank officials later in the day to see if they would reiterate their position to combat excessive strength in the Swiss franc. Swiss authorities have been intervening in the currency market since March.
The dollar index was little changed but the U.S. currency fell as low as 93.80 yen in early trade, as the yen was the main beneficiary of the pullback in risk demand.
In early European trade, the pair traded at 94.12 yen, down 0.4 percent on the day.
The dollar showed little reaction to news that U.S. President Barack Obama would reappoint Federal Reserve Chairman Ben Bernanke for a second term on Tuesday.
"I don't think there will be any major impact, but it should be positive for markets such as the stock and bond markets in the sense that an element of uncertainty has been removed," said Takahide Nagasaki, chief FX strategist at Daiwa Securities SMBC in Tokyo.
SHANGHAI STOCKS EYED
High-risk currencies struggled against the yen, pushing the euro and the Australian dollar each down 0.5 percent, while sterling fell nearly 0.7 percent.
Market participants said currency moves had been driven by a slide in Shanghai's share index, which struggled after Chinese Premier Wen Jiabao said China would keep monetary policy loose as the economy faces fresh difficulties.
The low-yielding yen tends to gain when stocks and higher-yielding currencies fall or when weak economic data casts doubt on the path to global recovery. (Additional reporting by Tokyo Forex Team; editing by Mike Peacock)