Dollar hits 4-month low

TOKYO: The dollar fell to a four-month low against the yen on Tuesday as investors cut exposure to riskier assets as Washington struggled with a partial government shutdown and open confrontation between the White House and the central bank. The dollar fell 0.27% to 110.12 yen in early trade -- its lowest level since late August and extending a seven-day losing streak. The yen also hit a 16-month high against the British pound, trading at 139.90 yen. US stocks plunged more than 2% while oil prices sank more than 6% in a holiday-shortened Monday trade as developments in Washington added to investors’ concern about a slowdown in the global economy next year.

Published in The Express Tribune, December 26^th, 2018.

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