Economic news

Yen steady but below five-month high vs greenback

The yen crept higher against the dollar on Monday, but remained below a five-month peak as a recovery in U.S. stocks late last week eased demand for traditional safe haven assets.

Photo: Reuters

The dollar declined 0.1 percent to 108.70 yen, but traded above Friday’s low of 108.05 yen, its weakest level since Sept. 11. The greenback last week dropped almost 1.3 percent versus its Japanese peer.

The dollar index lost 0.4 percent to 90.105 after rising 1.4 percent last week.

The euro gained 0.3 percent to $1.2290. Last week, the single currency slumped 1.6 percent.

Sterling rose 0.2 percent to $1.3861, after sliding 0.6 percent Friday to the lowest level in more than three weeks.

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