Yen firms, euro retreats before ECB meeting
London
A MODERATELY risk-averse tone dominated currency markets on Wednesday, with the safe-haven yen broadly higher amid anxiety about a slowdown in China.
The low-yielding euro, which tends to do well during times of financial market uncertainty, however, underperformed and was weaker before a European Central Bank (ECB) meeting on Thursday. The ECB is expected to take rates deeper into negative territory and announce more asset purchases in a bid to boost inflation.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Walmart to shut all health centers in US over lack of profitability
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
3M to cut dividend on health-care spin, losing aristocrat status
OCBC should be seen as ‘financial conglomerate’ unlike local banking peers, says chairman
HSBC CEO to retire; bank reports 1.7% lower Q1 profit of US$10.8 billion
McDonald's sales miss estimates as customers cut back spending