Dollar steadies, euro slides after data surprises
London
THE euro handed back almost all the previous day's 1-per-cent rise against the dollar on Tuesday after unexpectedly sharp declines in industrial output and investor morale underlined economic frailty and falling prices.
The single currency dropped by a whole cent to US$1.2640 and hit an 11-month low against the yen after both eurozone industrial output and the ZEW indicator of German investor sentiment came in well below forecasts.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention