Yen rises to 7-month highs as US slowdown fears spill over
SINGAPORE (Reuters) -Japan's yen hit its highest levels against the dollar since January on Monday, as markets extended moves triggered last week after weak U.S. labour data stoked recession worries and expectations of deeper rate cuts by the Federal Reserve. Friday's jobs data, coming on top of a string of weak earnings reports from large technology firms and heightened concerns over the Chinese economy, drove a global sell-off in stock markets, oil and high-yielding currencies as investors sought the safety of cash. The selling continued on Monday, with U.S. Treasury yields falling further, stock indexes in the red, bitcoin dumped and the dollar losing ground mainly to the yen.
