By Lucia Mutikani NEW YORK (Reuters) - The U.S. dollar scaled a fresh 13-month peak versus the euro on Monday, while the yen surged broadly as investors dumped risky assets amid anxiety over the lack of a coordinated global response to the credit crisis. Traders drove the euro below $1.35 to the dollar, taking a dim view of a weekend decision by leaders of Europe's four biggest economies against a coordinated bailout plan. In addition, European governments were forced to rescue large banks and protect ordinary depositors. The heightened risk aversion, which saw heavy selling of stocks globally, put the yen on track for its largest one-day gain versus the dollar since the Asian crisis in 1998, and its strongest day against the euro since the launch of that currency in 1999. Both the dollar and the yen rallied sharply against...
[read full story]
Your Web Site
