Economic news

Dollar and yen enjoy deepened Brexit crisis

The dollar index .DXY slipped 0.1 percent to 96.81 on Friday, staying near a 16-month peak of 97.69 scaled at the start of the week.

Photo: Reuters

The yen was steady, hovering at 113.28, up 0.3 percent on the day, as the Brexit crisis led investors toward the safe harbor currency. The yen had touched a six-week trough of 114.20 on Monday before erasing declines.

Investors were also assessing the latest developments in U.S.-Sino trade relations, while most analysts predict the greenback to remain strong in the near future due to the Federal Reserve’s monetary policy. A fourth hike for this year is anticipated in December, supported by a solid economy and increasing wage pressures.

The world's most popular crypto currency Bitcoin, which dipped to a one-year low overnight after sliding 10 percent early in the week, remained under pressure. It was last fluctuating at $5,560.73 on the Bitstamp platform.

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