Grim market mood sends yen, US$ up against euro

London

A GRIM mood on global financial markets sent investors searching for the traditional security of the US dollar and yen on Thursday, driving both higher against a euro weakened by the prospect of prolonged low inflation and negative interest rates.

A 1.5 per cent surge for the New Zealand dollar after interest rates there were kept on hold had been by far the biggest move on major currency markets in Asian trading and early in Europe's day.