MF Global's Meir said a rate increase coming out the European Central Bank by Thursday could initially set markets back, but he felt the move would likely be shrugged off quickly, similar to the reaction to recent fiscal tightening in China.
(Published at 12:08 pm)The Japanese yen has sunk to a six-month low against the U.S. dollar on speculation that Japan's central bank will take longer than other countries to raise interest rates. The U.S. dollar was rising 0.6% against the Japanese currency at 85.329 yen. On Wednesday, the U.S. currency hit a six-month high against the Japanese currency at 85.515 yen.
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