Business | Markets
Dollar hits 7-month low vs yen on risk aversion
The dollar hit a seven-month low against the yen on Thursday as deepening concerns about the global economy prompted Japanese institutional investors to dump risky overseas assets.
- Agencies
- Published: 08:10 October 23, 2008
Tokyo: The dollar hit a seven-month low against the yen on Thursday as deepening concerns about the global economy prompted Japanese institutional investors to dump risky overseas assets.
The euro was also hurt by Japanese investor risk aversion, striking a six-year trough.
The dollar slid as low as 96.89 yen its lowest since March this year, on trading platform EBS.
The euro fell to 123.46 yen its lowest since December 2002.
Share this article
More from Markets
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
New law to protect investor rights
Dubai land department is studying legislation to protect property purchasers
-
Global Village
Revamped layout featuring four cultures to greet visitors this season
-
Cloud computing is here to stay
Managing security effectively is critical when sharing data over the internet
