The dollar fell to a two-week low against the yen on Monday as a latest flare-up in global trade concerns dented investor risk appetites and drove down U.S. yields.
The greenback was down 0.4 percent at 109.54 yen <jpy=>after dropping to 109.45, its weakest since June 11.</jpy=>
Investors steered from risk, with Asian equities in retreat and Treasury yields declining, after the Wall Street Journal reported the U.S. Treasury Department is crafting rules that would block firms with at least 25 percent Chinese ownership from buying U.S. companies involved in “industrially significant technology”.
The report added to the sense of caution felt after U.S. President Donald Trump on Friday threatened to impose a 20 percent tariff on all cars imported from the European Union. The EU responded by saying it will have no choice but to retaliate to such a move.
