//
Vassili Serebriakov, currency strategist at Wells Fargo in New York, told Reuters that it seems unlikely that the market will overcome the "spell of uncertainty" any time soon.
He suggested that this was caused by "global growth fears, constrained monetary and fiscal policy choices and the lingering European debt crisis".
The yen proved an attractive option for forex traders as they looked for "safe haven currencies" in light of recent concerns over the state of the US economy and the problems faced by banks in Europe.
Of the European currencies, the Swiss franc was one of the only ones that continued to perform well, although the dollar rose 0.3 per cent against it.
This comes after Chris Turner, chief currency strategist at ING, suggested that the yen and Swiss franc are two currencies that have been strengthening rapidly in recent months.
Posted by Greg Secker
