Investing.com - The dollar regained ground against the yen and the euro on Tuesday, as mounting concerns over the outlook for global economic growth sent the safe-haven greenback broadly higher.
USD/JPY hit one-month lows of 106.76 during late Asian trade, before erasing losses to trade at 107.09, up 0.23%.
Demand for the safe-haven yen strengthened last week after the International Monetary Fund cut its forecasts for global growth in 2014 and 2015 and warned that global growth may never reach its pre-crisis levels ever again.
Recent data from Germany indicating unexpected weakness in manufacturing and exports also added to concerns, as well as signs of uneven growth in China.
But the dollar began to recover from the Federal Reserve's latest meeting minutes signaling a potential delay in interest rate hikes.
EUR/USD slid 0.32% to 1.2711 as markets eyed a highly anticipated report by the ZEW Institute on German economic sentiment, due later in the trading session as well as data on industrial production in the euro zone.
Markets were also jittery amid the widening Ebola epidemic. The U.K. announced on Monday that it will begin conducting fever tests for Ebola at Heathrow airport, after Health Secretary Jeremy Hunt says it is likely that tge virus will be diagnosed in the U.K. by end of year.