Yen and Euro Rise Against Dollar

The yen rose to a one-month high against the dollar and traded near 11-month peaks against the euro on Monday, as investors turned cautious on concerns about the health of the global economy.

With market holidays in Tokyo and New York also boosting instability, the dollar dropped after Federal Reserve officials warned at the weekend that if the global recovery stumbled, it could delay an increase in US interest rates.

The euro rose 0.3% against the dollar but was slightly lower against the yen.

European Central Bank council member Ewald Nowotny said the euro was very likely to keep weakening against major currencies.


Trading Tip: If the dollar will keep declining against other currencies, the gold might rise as a result.

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