Yen, dollar climb, economy woes sting risk demand

By Naomi Tajitsu LONDON (Reuters) - The yen and the dollar gained broadly on Monday on eroding optimism about an improvement in the global economy, dragging equities lower and prompting investors to shun risk and buy currencies perceived to be safe. Currencies including the Australian dollar and sterling, which have tended to benefit the most from any signs the global economy is on the mend, fell sharply as the fallout from grim U.S. jobs data last week continued. Analysts said traders were coming to terms with signs recent economic data have not been consistently better-than-expected as in past months, and that it was possible for future readings to show weakness. "The market is taking profit on the 'green shoots' trade that it has had on for the past few months and it's reacting to the possibility that things may be looking... [read full story]                    

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