NEW YORK, May 29 (Xinhua) -- The U.S. dollar strengthened against its major rivals in late trading on Wednesday as fears about trade and economic slowdown triggered risk-aversion sentiment.
The dollar index, which measures the greenback against six major peers, was up 0.20 percent at 98.1449 in late trading.
In late New York trading, the euro fell to 1.1133 dollars from 1.1165 dollars in the previous session, and the British pound decreased to 1.2623 dollars from 1.2655 U.S. dollars in the previous session. The Australian dollar decreased to 0.6913 dollar from 0.6922 dollar.
The U.S. dollar bought 109.44 Japanese yen, lower than 109.47 Japanese yen of the previous session. The U.S. dollar decreased to 1.0076 Swiss francs from 1.0079 Swiss francs, and it increased to 1.3521 Canadian dollars from 1.3490 Canadian dollars.
Concerns over economic growth were widely spread on Wednesday as long-term U.S. government debt yields fell further below rates on short-term notes and bills during the session.
An inverted yield curve happens when short-term rates surpass their longer-term counterparts, which is considered an important indicator of possible economic recession. Enditem
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