NEW YORK, May 11 (Reuters) - The dollar rose on Monday, rebounding from a four-month low as investors booked profits on a rally in riskier assets last week while persistent economic worries boosted the greenback's safe-haven appeal.
The yen posted broad gains as European shares fell and U.S. stock futures pointed to a lower open. The U.S. and Japanese currencies often gain when risk aversion rises as they are perceived as safer places to park money in times of stress.
Hopes that the worst of the economic slump and financial crisis is over pushed the dollar to multi-month lows earlier in the global session. But with the economic outlook still far from certain, investors were reluctant to push riskier assets even higher, analysts said.
The yen posted broad gains as European shares fell and U.S. stock futures pointed to a lower open. The U.S. and Japanese currencies often gain when risk aversion rises as they are perceived as safer places to park money in times of stress.
Hopes that the worst of the economic slump and financial crisis is over pushed the dollar to multi-month lows earlier in the global session. But with the economic outlook still far from certain, investors were reluctant to push riskier assets even higher, analysts said.
posted date
11-05-09
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