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The dollar dipped on Thursday as traders ramped up bets for a supersized rate cut from the Federal Reserve later this month, with the yen a notable outperformer on safe-haven demand as concerns over the U.S. economy's growth outlook resurfaced.

The dollar dipped on Thursday as traders ramped up bets for a supersized rate cut from the Federal Reserve later this month, with the yen a notable outperformer on safe-haven demand as concerns over the U.S. economy's growth outlook resurfaced.

Global markets have been on edge and stocks, in particular, badly bruised, after softer-than-expected U.S. data out this week reignited concerns that the growth outlook of the world's largest economy was less rosy than earlier thought and that the labor market could be slowing more sharply than expected.

That has led to investors fleeing risky assets in search of safety, with the yen one of the biggest beneficiaries.

The Japanese currency was last 0.26% stronger at 143.56 per dollar, having already gained nearly 2% for the week thus far.

The Swiss franc , also a traditional safe-haven currency, steadied at 0.8461 per dollar, though its 0.46% gain for the week to date was more subdued compared to the yen's rise.

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