The dollar sank to an all-time low against the Swiss franc and a four-month trough versus the yen on Friday as weak data on U.S. economic growth ignited fears the economy could slip into another recession.
Debt worries on both sides of the Atlantic prompted investors to seek refuge in the franc and yen, traditional safe havens. However, the greenback gained against commodity-linked currencies that typically struggle when there is heightened risk aversion, such as the Australian, Canadian and New Zealand dollars.
The dollar's slide against the Swiss franc and yen accelerated after data showing the U.S. economy grew at a much weaker-than-expected rate in the second quarter. First-quarter growth was also revised sharply lower.
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