Strengthening of euro, yen could be irksome for ECB and BOJ
London
THE global financial turmoil has seen developing nations coping with weaker foreign exchange rates. This year's best-performing currencies may prove equally irksome for those central bankers.
The euro and yen are beating all their major counterparts because they're being treated as havens amid the downturn in commodity prices that's sent at least 16 currencies to record lows since the turn of the year. That won't sit well with the European Central Bank or the Bank of Japan, both of which would benefit from weaker currencies to help revive inflation and economic growth.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Bank of Japan’s Ueda signals chance of policy action if yen moves affect inflation
Fed’s Kashkari says rates likely on hold for ‘extended period’
FTX has billions more than needed to pay bankruptcy victims
UOB Q1 profit down 1.6% to S$1.49 billion
AI risks to financial stability are already a central bank worry
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares