The yen and dollar rose on Tuesday as fears of further U.S. bank failures overshadowed unexpectedly strong U.S. manufacturing data, boosting the two currencies’ safe-haven appeal.

European and Asian stocks extended last week’s rally on Monday and crude oil marched higher after U.S. economic news and stronger-than-expected data from the euro zone spurred expectations for economic recovery.

The dollar edged up against the euro and yen on Monday in extremely thin trade as Wall Street surrendered earlier gains and traders repositioned themselves ahead of U.S. consumer and housing data due this week.

The yen and the dollar edged up against the euro today, Wednesday, as falls in equities and oil prices dampened investors’ appetite for riskier assets.

World stocks fell today, Friday, after a disappointing U.S. jobs report and a sluggish euro zone services sector survey reinforced expectations that the process of recovery in the global economy would be long and slow.

The euro recovered against the dollar today, Friday, as traders picked up the single European currency following its fall the previous session, when weak U.S. jobs data helped lift the dollar across the board.

Oil dropped a dollar to below $66 a barrel today, Friday, after unemployment data hardened views economic weakness would sap energy demand and that last month’s rally was overdone.

European shares climbed 1 percent on Monday, boosted by upbeat euro zone data, while the dollar steadied after falling late last week on a renewed call by China for a super-sovereign reserve currency.

It’s the zeitgeist, dear reader, and a wonderful way for governments who got us into this mess to deflect attention from their less than stellar performances as stewards of the economy.

Gold slipped on Tuesday, pressured by a rising dollar and a firmer tone on equity markets, but analysts said inflationary concerns would underpin bullion’s safe-haven appeal.