Dollar shelters under recession clouds as investors put safety first

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar found support from investors worried about recession and seeking safety to hold just below a two-decade high on Monday, having slipped late last week after downbeat U.S. economic data reduced bets on U.S. interest rate hikes. While Asian stocks followed Wall Street higher, currency traders were wary of extending Friday’s dollar selling because the dollar typically rises in times of uncertainty. [MKTS/GLOB] The risk-sensitive Australian dollar eased 0.3% to $0.6918, weighed down by sliding commodity prices. The euro was pinned at $1.0563, though…

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