Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
Iran's Revolutionary Guard says it seized a British tanker in the Strait of Hormuz, claiming it failed to follow international marine regulations.World Newsread more
More than a quarter of the S&P 500 companies report earnings in the week ahead, and that could buffet the market as investors await the Fed's meeting at the end of the month.Market Insiderread more
Executives from United Airlines and American Airlines were "shocked" that state-owned airline Qatar Airways CEO Akbar Al Baker was also invited to the meeting, according to a...Airlinesread more
Walmart is making further organizational changes as it continues to integrate its store and digital operations and leadership, according to a memo obtained by CNBC that was...Retailread more
George Nader helped arrange a January 2017 meeting in the Seychelles between Erik Prince and the head of Russia's sovereign wealth fund, who reported directly to Vladimir...Politicsread more
These are the stocks posting the largest moves midday.Market Insiderread more
"I'm not hearing people blame the Fed as much as they're blaming tariffs," says CNBC's Jim Cramer.US Economyread more
Earlier, Williams said in a speech that "it's better to take preventative measures than to wait for disaster to unfold."The Fedread more
* U.S. Treasury curve inverts after PMI data misses estimates
Pound up as Britain's May gets "last chance" for orderly Brexit (Adds details on U.S. Treasury yield curve inversion, updates prices)
By Saqib Iqbal Ahmed
NEW YORK, March 22 (Reuters) - The dollar slid against the safe-haven Japanese yen on Friday as dismal U.S. manufacturing data fueled worries about the wider economy, and bond yields signaled growing fears of a recession.
The dollar, however, rose against the euro as a much weaker-than-expected German manufacturing survey raised concerns that Europe's powerhouse economy may be slowing.
On Friday, the spread between three-month Treasury bills and 10-year note yields inverted for the first time since 2007 after U.S. PMI manufacturing data missed estimates. This inversion of the yield curve is widely seen as a leading indicator of recession.
"You have to take it seriously that it is a signal for slowing growth or a potential recession in the next 12 to 18 months. This is what the Fed looks at closely," said Sean Simko, head of global fixed income management at SEI Investments Co in Oaks, Pennsylvania.
The dollar was 0.88 percent lower at 109.82 yen. Japan is the world's biggest creditor nation and its currency benefits when Japanese investors repatriate funds in times of financial or geopolitical stress.
The dollar, which came under pressure after the Federal Reserve surprised investors on Wednesday by abandoning all plans to raise interest rates this year, found some relief from a weaker euro.
"March's flash PMIs add to evidence that GDP growth was subdued in the three largest advanced economies in Q1, with Germany continuing to take the brunt of the global manufacturing slowdown," Simon MacAdam, global economist as Capital Economics, said in a note.
The euro was 0.71 percent lower against the greenback.
"It helps to reinforce the idea that we are looking at a more meaningful and more widespread slowdown than markets had anticipated a few months ago," said Karl Schamotta, director of foreign exchange strategy and structured products at Cambridge Global Payments.
"What we are seeing is sort of a recognition that the Fed is reacting to deeper risks in the global economy," he said.
Sterling, weighed down by fears Britain could exit the European Union on March 29 without a deal in place, recovered overnight when EU leaders gave Prime Minister Theresa May a two-week reprieve to decide how Britain would leave.
The pound was 0.76 percent higher against the dollar.
The Canadian dollar weakened to an 11-day low against its U.S. counterpart as data supported the view of a slowing Canadian economy.
(Reporting by Saqib Iqbal Ahmed; additional reporting by Richard Leong; Editing by David Gregorio and Richard Chang)