Most European Central Bank policy makers judged that buying government debt was the only option big enough to fight the threat of deflation when they met last month, an official account of the debate shows.
The yen touched the lowest level in a week against the dollar after the Bank of Japan maintained unprecedented monetary stimulus as the U.S. Federal Reserve moved toward raising borrowing costs for the first time since 2006.
Despite Friday’s non farm payroll-inspired losses, U.S. stocks are still looking strong from both the fundamental and technical points of view. The latest U.S. jobs report has shown that the labor market is continuing to improve at a solid pace, which bodes well for the economy as a whole.
At the beginning of this year, the People’s Bank of China (PBoC) engineered a decline in the renminbi, with the currency experiencing its biggest monthly drop on record against the U.S. dollar in March. The move was designed to dispel the belief that the yuan was a one-way bet and to ease pressure on China’s export sector.