Dollar dives as global growth fears fester

A slump in major stock markets and a jump in bond prices this week has forced traders out of risky positions, leading to the unwinding of the carry trade and repayment of cheap yen funds. Recent global market turmoil has prompted large-scale yen buying even though Japan recently lowered its interest rates below zero, which theoretically should reduce the yen's value. Doubts about the effectiveness of the Bank Of Japan's rate policy has prompted traders to ignore traditional fundamentals and pack