US$ recovers some ground after 5 days of falls
London
THE US dollar rebounded on Wednesday after falling for five days in a row against its currency basket, as investors awaited a speech by the head of the Federal Reserve later in the day and looked to US inflation data for clues on the path of interest rates.
After a volatile Tuesday on which sterling rose more than 3 per cent for its best showing against the dollar since at least 1998, currency markets were calmer on Wednesday, with most of the previous day's moves reversing some of their course.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%
A timeline of DBS’ recent banking glitches