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.
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