Dollar, Yen Strengthen as Risk Appetite Decreases; Euro Declines
This article is for subscribers only.
The dollar and the yen gained versus most major counterparts as companies reported financial results that missed analyst estimates, adding to evidence the global economy is slowing and sapping risk appetite.
Higher-yielding currencies including the New Zealand dollar weakened as global stocks and commodities dropped. Canada’s dollar rose versus most peers as the central bank signaled it may raise interest rates, while Brazil’s real fell versus the dollar as its central bank intervened. The euro slid from a five-month high versus the yen after French industrial confidence dropped to the lowest level since 2009.