Japanese Yen to 7-Month Highs as US Economic Slowdown Persist

Japan's yen today hit its highest levels against the dollar since January 2024, as markets extended moves triggered last week after weak US labour data stoked recession worries and expectations of deeper rate cuts by the Federal Reserve. The dollar index was almost stable at 103.17 points. The safe-haven yen traded at 145.43, up 0.8 percent versus the dollar, after hitting a mid-January peak of 145.28 in early deals. The euro was flat at USD 1.091, while the Australian dollar fetched USD 0.6495 and was down 0.25 percent. The selling continued today, with US Treasury yields falling further, stock indexes in the red, and currency volatility slightly lower. Source: Oman News Agency