TOKYO : The safe-haven Japanese yen and Swiss franc traded near multi-month highs against the dollar on Friday after an unexpected slump in U.S. manufacturing fuelled fears of a downturn, sending stocks and bond yields tumbling.
Sterling languished at a one-month low after plunging almost 1 per cent overnight as the Bank of England kicked off its interest-rate cutting cycle in a finely balanced decision. The euro also sagged near a one-month trough following dovish comments from the European Central Bank.
The risk-sensitive Australian dollar declined 0.14 per cent to $0.6493 on Friday, extending the previous session's 0.52 per cent slide. "There was nowhere to hide overnight as dour economic data fuelled hard landing fears," said Tony Sycamore, a markets analyst at IG.
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