Dollar dithers as safety bid flows to the yen [CNBC]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
NASDAQ:AMEX Investor Relations:
coli.com.hk/en/ir
Company Research
Source: CNBC
The yen was investors' safe harbor of choice on Tuesday and it traded near five-month highs as fears about a tariff-driven slowdown in U.S. growth have rattled U.S. stocks and the dollar. The Nasdaq fell 4% overnight and the S&P 500 slid 2.7% as equities caught up with a big rally in U.S. bonds, moving on the risk that U.S. economic growth slows down. The yen touched a five-month peak of 146.625 per dollar and was last trading at 146.85. Other moves in the currency market were more muted, but the lack of flight to the dollar - which has been sinking in recent weeks - was noteworthy, according to analysts. The overnight drop in the risk-sensitive Australian dollar was a modest 0.4% and it last bought $0.6272. Sterling was holding on above its 200-day moving average at $1.2875 and the euro was steady just above $1.08. There were falls in the Canadian dollar and Mexican peso - the economies whose exports are to bear the brunt of U.S. tariffs - but they were modest. The Canad
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