The yen dropped towards its 2019 low on Monday and the Swiss franc hit its weake...
LONDON - The yen dropped towards its 2019 low on Monday and the Swiss franc hit its weakest in nearly a month as a rally in global markets dented demand for currencies considered safe havens.
The yen fell as low as 112.09 per dollar in Asian trading, near a 2019 low of 112.135, before recovering slightly as the European session got under way. A relatively upbeat assessment of the global economy out of the International Monetary Fund meeting at the end of last week has helped global investment sentiment.
Although China’s imports remained weak, the data on the whole fuelled hopes that the economy is bottoming out after a soft patch.
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