US$ steadies after worst fall in 2 months
London
THE US dollar recovered from a one-month low on Thursday as investors bought the currency on the back of sharp falls prompted by the US Federal Reserve's failure to give a hawkish message on further rate rises.
The dollar index which measures its strength against a basket of major currencies saw its biggest one-day fall in two months on Wednesday and the euro, consistently resistant to dollar strength since November, jumped by the most in nine months.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM wins reversal of US$1.6 billion poaching award to BMC
Binance founder Zhao Changpeng gets 4 months in prison
Singapore Airlines could post highest-ever earnings of about S$2.7 billion for FY2024, says analyst
Amazon’s Twitch starts rival to TikTok in short-form video
Pinterest revenue surges on popularity of shopping push
Tesla axes most of Supercharger team in blow to other automakers