Japanese Yen to 7-Month Highs as US Economic Slowdown Persist

Japan's yen hit its highest levels against the dollar since January on Monday, as markets extended moves triggered last week after weak US labor data stoked recession worries and expectations of deeper rate cuts by the Federal Reserve. The dollar index was almost stable at 103.17 points. The safe-haven yen traded at 145.43, up 0.8 percent versus the dollar, after hitting a mid-January peak of 145.28 in early deals. The euro was flat at USD 1.091, while the Australian dollar fetched USD 0.6495 and was down 0.25 percent. The selling continued on Monday, with US Treasury yields falling further, stock indexes in the red, and currency volatility slightly lower. Source: Qatar News Agency