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US dollar slides vs yen after Friday's rally, risk aversion

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The US dollar slid sharply against the yen on Monday as investors took profits following the greenback's rally on Friday, traders said.

[TOKYO] The US dollar slid sharply against the yen on Monday as investors took profits following the greenback's rally on Friday, traders said.

The dollar was down one per cent at 112.815 yen, pulling back after rallying to 114.00 on Friday when a set of upbeat US economic data revived prospects of the Federal Reserve hiking interest rates this year.

A broad slide by regional equities after a G20 policy makers' meeting over the weekend ended without a new coordinated plan to spur global growth also favored the yen.

REUTERS

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