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Euro gains as Trump tariff fallout grips markets

Investors bought the euro and poured into safe havens such as the yen and Swiss franc today as the market rout from US President Donald Trump's sweeping tariffs deepened and fears of a global recession grew.

Business • 07 Apr

The euro rose nearly 1% to a two-week high of $1.0950 in early trade after US announced a raft of tariffs yesterday

Dollar slides as investors seek safe havens after tariffs

The dollar slid broadly today and the euro firmed after President Donald Trump announced harsher-than-expected tariffs against US trading partners, jolting the markets as investors sought safe havens such as the yen and Swiss franc.

Business • 03 Apr

The euro is set for a 5.6% decline against the dollar this year, with traders expecting the European Central Bank to be sharper with its cuts than the Fed

Dollar stands tall in 2024, propped up by cautious Fed

The dollar slipped on the last trading day of the year today but was poised to clock strong gains in 2024 against almost all currencies as investors prepared for fewer US rate cuts and the incoming Trump administration.

Business • 31 Dec 24

The Nikkei index plunged more than 12% yesterday - the largest points drop in its history

Tokyo's Nikkei index closes up 10.2% after record fall

Tokyo's key Nikkei index closed more than 10% higher today, bouncing back from a record selloff the previous day on worries over the US economy and a stronger yen.

Business • 06 Aug 24

The Bank of Japan has set an interest rate of 0.25%, a notch up from the previous rate of around zero to 0.1%

Bank of Japan ups interest rate for 2nd time in 17 years

The Bank of Japan further unwound its massive monetary easing programme today by hiking interest rates for only the second time in 17 years and indicating plans for more if the economy performs as officials expect.

Business • 31 Jul 24

Traders had been on edge for weeks for any signs of action from Tokyo to prop up a currency that has fallen 11% against the dollar so far this year

Japan's yen jumps against the dollar

The yen jumped suddenly against the dollar today, with traders citing yen-buying intervention by Japanese authorities to try to stem a relentless fall in the currency to levels last seen over three decades ago.

Business • 29 Apr 24

The Japanese yen to a fresh 34-year low against the dollar after the Bank of Japan kept interest rates steady today

Yen falls further as Bank of Japan stands pat on rates

The Bank of Japan kept its ultra-low interest rates unchanged today and stopped short of signalling another hike, pushing the yen to a fresh 34-year low against the dollar.

Business • 26 Apr 24

Japan's yen hit the weakest level since the middle of 1990, around the time the country's asset bubble burst

Japan makes strongest intervention warning as yen slumps

Japan's finance minister issued his strongest warning to date today about yen weakness as it fell to a 34-year low against the dollar, saying authorities could take "decisive steps", language previously used before intervention.

Business • 27 Mar 24

Tokyo's Nikkei finished 2.19% higher at 39,098.68 today - a new high

Japan's Nikkei index scales new record high

Japanese stocks raced to a record peak today, breaking levels last seen in 1989 during the halcyon days of the bubble economy, as cheap valuations and corporate reforms lure foreign money looking for alternatives to battered Chinese markets.

Business • 22 Feb 24

Japanese exports fell 0.3% in July on an annual basis

Japanese exports fall for first time since 2021

Japan's exports fell in July for the first time in nearly two and a half years, dragged down by faltering demand for light oil and chip-making equipment, underlining concerns about a global recession as key markets like China weakened.

Business • 17 Aug 23

The UK economy has avoided a technical recession, but logged zero growth in the fourth quarter of 2022

Sterling falls as UK economy grinds to a halt in Q4

The pound eased today after data showed the UK economy ground to a halt in the final three months of 2022, avoiding a technical recession, but logging zero growth.

Business • 10 Feb 23

Toyota has trimmed its annual production target by about 1%, to around 9.1 million vehicles

Toyota's Q3 profit jumps 22%, buoyed by weak yen

Japan's Toyota Motor posted a surprise 22% rise in third-quarter operating profit, as a weaker yen and higher sales volumes helped the world's top automaker overcome a jolt from the soaring costs of raw materials.

Business • 09 Feb 23

Japan's economy shank by a revised 0.8% in the third quarter on an annual basis

Japan upgrades Q3 GDP as global recession risk lingers

Japan's economy, the world's third-largest, shrank less than initially estimated in the third quarter, bolstering a view that it is slowly recovering from Covid-19 doldrums even as major export markets show further signs of weakening.

Business • 08 Dec 22

The Nikkei, citing a source, also said Japan had intervened to buy yen and sell dollars

Japanese yen jumps as traders suspect intervention

Japanese authorities likely intervened in markets to stem the slide of the country's battered currency, market participants said, following an unexpected jump in the yen against the dollar.

Business • 21 Oct 22

Currency markets are on high alert for any signs of an intervention from Japanese authorities

Yen falls past 150 per dollar for 1st time in 32 years

The dollar hit the symbolic level of 150 yen today as the greenback was supported by Treasury yields trading at multi-year highs.

Business • 20 Oct 22

The euro has moved higher as European Central Bank officials push the case for further aggressive monetary tightening

Euro at 3-week high amid ECB interest rate signals

The euro jumped to a more than three-week peak to the dollar today, and sterling rose to the highest this month as European Central Bank officials pushed the case for further aggressive monetary tightening.

Business • 12 Sep 22

Economic problems in Europe continue to contrast with a strong US economy

Dollar stomps on yen, sterling under heavy pressure

The dollar was lord of all it surveyed today, hitting a fresh 24-year peak on the rate-sensitive yen and retesting multi year highs on the euro and sterling as economic problems in Europe contrasted with a strong US economy.

Business • 07 Sep 22

The euro and sterling both fell today on global slowdown fears

Euro, sterling knocked by global growth worries

Both the euro and sterling fell today as concerns resurfaced that interest rate hikes from major central banks to contain inflation run the risk of a sharp global growth slowdown or recession.

Business • 22 Jun 22

Honda said its sales last year were up 10.5%

Honda posts solid yearly earnings despite chip crunch

Japanese auto giant Honda said today its net profit rose 7.6% in the financial year to March, benefiting from strong motorbike sales and a weaker yen.

Business • 13 May 22

Any step towards a ceasefire or a potential peace deal would support the euro as the euro area is seen suffering the most significant economic impact of the conflict

Euro jumps after Ukraine offers neutral status

The euro jumped today after some progress was reported in peace talks between Russia and Ukraine.

Business • 29 Mar 22

The euro is on track for its biggest three-day loss in two years

Euro set for biggest 3-day drop in 2 years as oil soars

The euro tanked more than 1% against the dollar today and was on track for its biggest three-day loss in two years as soaring oil prices stoked fears of a stagflationary shock that could hammer European recovery hopes.

Business • 07 Mar 22

Dollar falls against the yen and euro in hectic trade today

Foreign exchange volatility surges as dollar falls

The dollar fell 3% against the Japanese yen and commodity-linked currencies tanked today, as a 30% crash in oil prices and tumbling stock markets panicked investors and sent currency prices swinging wildly.

Business • 09 Mar 20

Lower yen pushes Japanese stock markets to a 26 year high

Tokyo stocks close at 26-year high as yen eases

Tokyo's main stock index closed up at a more than 26-year high today as the yen rowed back from its latest rally against the dollar.

Business • 16 Jan 18

Toyota today unexpectedly warns of more declines as a stronger yen takes a bite out of its bottom line

Toyota reports first fall in annual profit in 5 years

Toyota said today that its annual net profit fell for the first time in five years.

Business • 10 May 17

Japan, the world's third-largest economy, is now expected to expand 1.4% in the year to March

Bank of Japan lifts growth forecasts

The Bank of Japan today upgraded its economic growth forecasts for the current fiscal year and the next two, while leaving its ultra-loose monetary policy intact.

Business • 31 Jan 17