The safe-haven yen and Swiss franc retreated against the dollar on Monday, as risk sentiment gradually improved after a week of turmoil on hopes that major central banks would look to launch fresh stimulus measures to lift their sluggish economies.
The Japanese currency fell for a third straight session versus the greenback, while the Swiss unit slid to a two-week low against the dollar.
Optimism about government action to avert recession concerns in the United States, which was triggered by last week’s inversion in the U.S. bond yield curve, rose in advance of the U.S. Federal Reserve’s symposium in Jackson Hole, Wyoming, toward the end of the week, where central bankers could announce key measures.
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