Dollar gains with yen, Aussie drops as investors fret over recession risks

Shafaq News / Worries about the risk of a global recession drove rallies in the safe haven Japanese yen and U.S. dollar on Friday while the risk-sensitive Australian dollar dipped to a two-year low.

The yen gained to 135.105 per dollar , pulling away from the mid-week low of 137.00, which was its weakest in 24 years.

The dollar index - which measures the greenback against six counterparts including the yen, euro and sterling - gained 0.18% to 104.85.

The euro sank 0.31% to $1.0449 and sterling lost 0.53% to $1.21145.

The Aussie tumbled 1.12% to $0.6826, and touched $0.6822, a level not seen since June 2020.

The New Zealand dollar plunged 1.15% to $0.6175 for the first time since May 2020.

Risk assets were already under pressure in the Asian morning, but losses accelerated quickly in the afternoon.

Regional stocks sank along with U.S. Treasury yields in Tokyo trading.

(Reuters)