Article by ForexTime
Risk aversion kept currency markets subdued in early Monday trading. Meanwhile, markets are closed in Japan, the United States and Canada today, which will likely keep volumes low.
The US dollar fell to a one-month low against the yen at the start of the new trading week, as heightened worries about the health of the global economy continued to lift the safe-haven Japanese currency.
USD/JPY opened in Asia at 107.53 and dropped to 107.05.
The dollar also fell versus the euro and the Australian dollar in choppy, holiday-thinned trade.
EUR/USD bounced off Friday’s low of $1.2606 to $1.2698. AUD/USD rebounded to 0.8750 from $0.8650.
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The greenback struggled to gain traction in the wake of its broad drop last week after the dovish-leaning minutes of the U.S. Federal Reserve’s September meeting prompted the market to push back the expected timing of a Fed rate hike.
Contributing to the dollar’s recent decline against the low-yielding yen have been worries about global growth, which have reduced risk appetites and triggered a broad selloff in equities.
Article by ForexTime
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