Economic news

Dollar drops to two-week weak point against yen

The dollar slipped to a two-week nadir versus the yen on Monday as an escalating world trade worries affected investor risk appetites and pushed down U.S. yields.

Photo: Reuters

The U.S. currency was 0.4 percent lower at 109.54 yen after sliding to 109.45, its lowest level since June 11.

The dollar index traded at 94.559 .DXY having pulled back from 95.529, its top since July 2017, touched early on Friday.

The euro was firm at $1.1654 after surging almost 0.5 percent on Friday. The common currency was supported by fresh impressive German and French business activity data.

The Aussie sank 0.3 percent to $0.7418 after rising 0.85 percent in the previous session. The currency had slumped to a one-year trough of $0.7394 last week, hit by the Sino-U.S. trade row.

The loonie shed 0.25 percent to C$1.3295 a dollar after jumping 0.4 percent on Friday.

The Turkish lira added 0.5 percent to 4.64 a dollar, after soaring as much as 1.6 percent earlier.

Bitcoin dropped to as low as $5,780 and last traded at $6,161.


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