Major currencies remained confined to well-trodden ranges on Tuesday, as markets...
TOKYO - Major currencies remained confined to well-trodden ranges on Tuesday, as markets look next to European and Chinese data for more evidence that the worst may be over for the global economy.
The Japanese currency has fallen against both units after rising to recent highs in late March, said Masafumi Yamamoto, chief currency strategist at Mizuho Securities. The data in focus includes Germany’s ZEW economic index for April, due around 0900 GMT, and China’s gross domestic product set for Wednesday, which is expected to offer more insight on the health of the world’s second-largest economy. Chinese exports and credit data last week signalled some stabilisation, prompting markets to adjust their outlook on global growth.
Motegi said late on Monday both sides had confirmed that new bilateral trade talks would proceed based on the two nations’ joint statement issued last September. Motegi and Lighthizer are slated to continue their talks on Tuesday.
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