Dollar dips versus yen as growth concerns shake confidence
Thursday, 6 December 2018 08:14 WIB | CURRENCIES |DOLLARDolar AS

The dollar dipped against the safe-haven yen on Thursday amid a spike in risk aversion, as equities continued their retreat on concerns about growth in the world's largest economy.

The U.S. currency dipped 0.2 percent to 112.98 yen, handing back some of the modest gains made overnight.

Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth.

The spread between the two-year and five-year Treasury yields inverted this week and the two-year/10-year spread was at its flattest in more than a decade amid a sharp fall in long-term rates.

A flatter curve is seen as an indicator of a slowing economy, with lower longer-dated yields suggesting that the markets see economic weakness ahead.

The 10-year Treasury yield fell to a three-month low of 2.885 percent on Tuesday and last stood at 2.920 percent.

Fed policymakers are due to gather at a Dec. 18-19 meeting, at which the central bank is widely expected to raise interest rates. Focus is on how many rate hikes the Fed could for 2019.

The euro was little changed at $1.1346 after retreating from this week™s high of $1.1419 scaled on Tuesday.

The Australian dollar was down 0.2 percent at $0.7256.

The pound was a shade lower at $1.2719.

Source: Reuters

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