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.
More from Markets
More from Business
Business Editor's choice
-
Saudi-Bahraini economic ties hit new high
Whilst press reports continue speculating on a possible new political structure defining ties between Saudi Arabia and Bahrain, facts on the ground confirm ever- stronger economic ties between the two neighbours
-
Cupid targets the Fed with early tweets
Declarations range from pure romance to cute overtures and racier fare
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
