Haven Currencies Advance Amid Signs of Slowing Global Growth
- Yen, Swiss franc, euro gain versus most major counterparts
- Glencore rout, VW scandal add to China economic concern
This article is for subscribers only.
The yen, the Swiss franc and the euro rallied as a rout in mining and commodity trader Glencore Plc’s shares and the scandal at Volkswagen AG added to concern that slowing growth in China will weigh on the global economy.
The euro joined the yen in posting the biggest advances against the dollar this quarter, according to data compiled by Bloomberg. The yen rose 2.2 percent while Europe’s shared currency added 0.9 percent versus the greenback during the period, the data show.