Yen lifted, dollar undermined by US yield curveball

Tokyo

THE yen held near six-week highs against the dollar on Monday as fears of economic recession, fanned by inversion of the US bond yield curve, sapped demand for higher-yield, growth reliant assets and drove investors toward "safe" destinations.

Attention is focused heavily on the state of world growth after the US Federal Reserve turned tail on raising interest rates, lacklustre Chinese data and a danger of a chaotic Brexit that would hit the British and European economies.