(Bloomberg) -- Most Read from BloombergWhat Comes After GE’s 129 Years of Greenhouse GasThe World’s Rich and Powerful Are Stashing $500 Billion in This Tax HavenWhat the Front Line of the U.S. Abortion Fight in Kentucky Looks Like NowCurrency traders are responding to stagflation risks by turning to the Swiss franc.Amid concerns that the global economy is heading toward an environment characterized by higher-than-normal inflation and little or no growth, the Swiss currency is showcasing its have
The euro hit a five-month low against the Swiss franc on Thursday, and the U.S. dollar nursed losses after dovish comments by the Fed chief broke a recent rise in Treasury yields. The British currency was also among the rare outperformers against the dollar after Bank of England interest rate-setter Michael Saunders said the central bank could decide to stop its current programme of government bond purchases early after an unexpectedly sharp rise in inflation.
* Dollar retreats from 3-month highs amid Treasury yield tumble * Spread of Delta variant fuels worries about global recovery * Euro also firmer in face of dollar weakness as havens sought By Kevin Buckland TOKYO, July 9 (Reuters) - The safe-haven yen and Swiss franc stood tall on Friday, while risk-sensitive currencies including the Australian and New Zealand dollars dipped to fresh multi-month lows as investors turned cautious about the global economic recovery. Bonds have rallied while stocks took a hammering worldwide amid growing concerns the fast-spreading Delta variant of COVID-19 could derail a revival that is already showing pockets of weakness. The dollar index clawed back part of Thursday's 0.36% slide, rising less than 0.1% to 92.454.