The dollar is at a six-week low against the yen, few replies to the Mueller report

TOKYO (Reuters) – The dollar eased back on Monday from its six-week low against the yen, as the market regained some calm, marked by fears of a recession in the United States.

The greenback had fallen on Friday, the gap between 3-month treasury bill yields and 10-year bills being reversed for the first time since 2007, as a result of weak data from the US dollar. American manufacturing PMI.

An inverted yield curve has historically signaled an impending recession.

The US Federal Reserve's cautious comments last week also raised concerns about growth prospects in the United States and the rest of the world.

The dollar was up about 0.2% to 110.13 yen after sinking to 109.745 on Friday, its lowest level since February 11th.

"The fall of the dollar on Friday seemed to be a reaction to the inversion of the yield curve and simply exaggerated. Some market participants have managed to find great deals to support the dollar / yen, "said Yukio Ishizuki, senior currency strategist at Daiwa Securities in Tokyo.

"On the other hand, the response to the Mueller report has been limited."

Special advocate Robert Mueller found no evidence of collusion between President Donald Trump's campaign team and Russia, and failed to provide sufficient evidence to justify Trump's indictment for obstructing justice, said Sunday the Attorney General of the United States, William Barr.

The dollar index remained unchanged at 96.651 after posting a gain of 0.15% on Friday.

The euro has changed little at $ 1.1297. The common currency lost about 0.7% Friday, following a much weaker-than-expected survey by the German manufacturing industry and raising concerns for the largest economy in Europe and the euro zone at large.

The Australian dollar, considered a liquid indicator of global growth, barely changed at $ 0.7077.

The pound was down 0.1 percent to $ 1.3200

The pound sterling rebounded 0.8% on Friday, helped by a weaker euro and after European Union leaders granted British Prime Minister Theresa May a two-week reprieve to decide the way to follow through Britain to leave the European Union.