LONDONTOKYO, March 28 Reuters The U.S. dollar fell slightly on Tuesday as receding fears of a fullblown banking crisis slowed demand for socalled safe haven assets.

The yen rallied, despite traditionally also being a safe haven, with analysts pointing to a pickup in flows ahead of the end of Japan39;s fiscal year on Friday.

The dollar fell as low as 130.51 yen , and was last off 0.41 at 130.98 as the Japanese currency rose. That undid some of the dollar39;s 0.64 jump against the yen in the previous session, which tracked a large rise U.S. government bond yields.

Analysts said Japanese companies were likely to be selling foreign bonds to bolster their balance sheets.

The time of the year the Japanese fiscal end I think there are some flows from Japanese repatriating, said Bart Wakabayashi, branch manager at State Street in Tokyo.

If that39;s it, it39;s pretty much a oneoff, and then we39;ll get back to basics, which is essentially following yields.

Elsewhere, the euro and pound rose as markets took solace from First Citizens BancShares39; agreement to buy all of failed lender Silicon Valley Bank39;s deposits and loans, and the fact that no further cracks have emerged in global banking.

The euro was last up 0.26 to 1.083. Sterling climbed 0.2 to 1.231, just below a twomonth high.

Markets are just generally a little bit riskpositive and the default position against that background is that the dollar drifts lower, said Adam Cole, chief currency strategist at RBC…