Recession worries boost dollar, yen

By Andrew Wilkinson
06 July 2009 @ 12:57 pm EDT

It appears that last week's gloomier U.S. jobs picture has provided a wake-up call for those dreaming about a global recovery and a return to business as usual. The Japanese yen and American dollar are both dusting themselves down as investors appear to be building up demand for their services as safe havens during economic crisis. The dollar reached $1.3900 against the euro earlier while the yen is stronger against all major currencies and has risen to ¥94.80 against the dollar.

Contributed by Interactive Brokers

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