The dollar edged back from a six-week low against the yen early on Monday, as a degree of calm returned to the market gripped by fears of a recession in the United States.
The greenback had tumbled on Friday as the spread between 3-month Treasury bills and 10-year note yields inverted for the first time since 2007 following weak U.S. manufacturing PMI data.
An inverted yield curve has historically signalled an impending recession.
Cautious comments from the U.S. Federal Reserve last week had also raised worries about the growth outlook in the United States and the rest of the world.
The dollar was up roughly 0.2 percent at 110.13 yen after sinking to 109.745 on Friday, its lowest since Feb. 11.
The dollar index was unchanged at 96.651 after scraping out a gain of 0.15 percent on Friday.
Source : Reuters