Investing.com – Asia rose on Monday morning as global growth concerns helped the safe-haven dollar make broad gains.

The greenback, which measures against a basket of other currencies, rose 0.29% to 107.32. The pair rose 0.72% to 137.05, its highest point against the yen in 24 years.

“The dollar is strengthening across the board, but dollar-yen is very violent,” National Australia Bank currency analyst Rodrigo Cottrell told Reuters.

Japan’s Governor Haruhiko Kuroda said earlier in the day that the central bank “will not hesitate to take additional monetary easing measures as necessary.”

The pair fell 0.59% to 0.6816, while the NZD was down 0.40% to 0.6167 against the US dollar.

USD/USD was up 0.21% at 6.7093, while GBP/USD was down 0.35% at 1.1986.

“Until risks associated with higher global inflation, European energy security and China’s growth outlook resolve, it (the dollar) will remain strong and in high demand,” analysts at Barclays ( LON: ) said in a note.

Rising inflation and fears of slowing economic growth continue to weigh on markets. {{ecl-300 || The US unemployment rate was 3.6%, easing some recession fears and raising expectations of monetary tightening.

Treasuries slipped, pushing the 10-year U.S. Treasury yield toward 3.1%.

Investors are now waiting, due Wednesday, which is expected to approach 9%, the highest level in four decades.

“This week’s US CPI will be an important piece of the puzzle as the central bank decides between 50 and 75 basis points ahead of the July meeting,” Barclays analysts said.

The market is also looking at energy supply. Maintenance on Nord Stream 1, the largest single pipeline carrying Russian gas to Germany, is scheduled to run from July 11-21. Markets are worried about an extension of the lockdown due to the war in Ukraine.