Yen nurses losses as stocks rally cheers mood
London
THE yen nursed losses against the dollar on Thursday as calm returned to currency markets with gains in global equities, including a 5 per cent jump in Shanghai, underpinning risk sentiment and sapping demand for safe haven currencies.
Comments from an influential Federal Reserve official on Wednesday downplaying prospects of a September interest rate hike helped improve sentiment. In the currency market, investors reacted by unwinding recent moves that had lifted both the yen and the euro.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Nvidia is missing link in a strong season of AI earnings reports
Citi shifts working hours, enhances platform ahead of settlement cycle change
Cordlife directors offer differing views on future oversight if board is rejigged
Tesla lays off more staff in software, service teams, Electrek reports
Robinhood Crypto gets Wells notice from US SEC
Morgan Stanley strategists see inflation as key for path of US stocks