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Yen Gains as Global Economic Worries Drive Risk Aversion
Monday, 25 March 2019 11:04 WIB | CURRENCIES | Yenmata uang yen

The yen gained against its peers on Monday, touching a six-week peak versus the dollar, as fears in markets of a global economic slowdown fueled demand for the Japanese currency.

The yen, a perceived safe-haven which attracts demand times of market turmoil and political tensions, was 0.15 percent higher at 109.79 to the dollar after brushing 109.70, its strongest since Feb. 8.

The Japanese currency rose 0.15 percent to 124.035 per euro and added 0.2 percent to 77.72 against the Australian dollar.

Stocks across Asia retreated, tracking global peers, after weaker-than-expected U.S. and European manufacturing data on Friday intensified fears of a global economic slowdown.

Source : Reuters

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