The U.S. dollar fell to a one-month low against the yen on Monday, as heightened worries about the health of the global economy continued to shore up the safe-haven Japanese currency. The dollar also slipped versus the euro and the Australian dollar in choppy, holiday-thinned trade.
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 sell-off in equities.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.