NEW YORK, March 25 (Xinhua) -- U.S. dollar retreated in late trading on Monday amid lingering fears of global economic slowdown.
Concerns over slowing global growth were triggered last Friday after the so-called yield curve inverted for the first time in more than a decade and the downbeat sentiment persisted through Monday.
An inverted yield curve happens when short-term rates surpass their longer-term counterparts, which is considered an important indicator of possible economic recession. The yield curve inverted again on Monday.
The dollar index, which measures the greenback against six major peers, decreased 0.09 percent at 96.5640 in late trading.
In late New York trading, the euro increased to 1.1312 U.S. dollars from 1.1293 dollars in the previous session, and the British pound decreased to 1.3180 dollars from 1.3207 dollars in the previous session. The Australian dollar increased to 0.7108 dollar from 0.7083 dollar. The U.S. dollar bought 110.05 Japanese yen, lower than 110.06 Japanese yen of the previous session. The U.S. dollar decreased to 0.9925 Swiss franc from 0.9944 Swiss franc, and it decreased to 1.3411 Canadian dollars from 1.3413 Canadian dollars.
Concerns over slowing global growth were triggered last Friday after the so-called yield curve inverted for the first time in more than a decade and the downbeat sentiment persisted through Monday.
An inverted yield curve happens when short-term rates surpass their longer-term counterparts, which is considered an important indicator of possible economic recession. The yield curve inverted again on Monday.
The dollar index, which measures the greenback against six major peers, decreased 0.09 percent at 96.5640 in late trading.
In late New York trading, the euro increased to 1.1312 U.S. dollars from 1.1293 dollars in the previous session, and the British pound decreased to 1.3180 dollars from 1.3207 dollars in the previous session. The Australian dollar increased to 0.7108 dollar from 0.7083 dollar. The U.S. dollar bought 110.05 Japanese yen, lower than 110.06 Japanese yen of the previous session. The U.S. dollar decreased to 0.9925 Swiss franc from 0.9944 Swiss franc, and it decreased to 1.3411 Canadian dollars from 1.3413 Canadian dollars.
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