Reuters
Dollar higher as risky assets tumble; yen rebounds from 1998 lows
NEW YORK (Reuters) -The safe-haven dollar rose to a fresh four-week high against a basket of currencies on Monday, supported by fears of a global economic slowdown and bets on steep interest rate hikes by the U.S. Federal Reserve. “The USD extended its gains from Friday as risk continues to unwind across the board,” said Brad Bechtel, global head of FX at Jefferies said in a note. The U.S. Dollar Currency Index, which tracks the greenback against six other major currencies, was up 0.4% at 104.83, within sight of the 2-decade high of 105.01 touched in mid May.
