The British pound fell for a fifth day, weighed down by a loosening monetary policy, as New Zealand’s dollar retreated with commodities. Asian shares climbed to a one-year high as Chinese inflation data added to signs of stabilization in the world’s second-largest economy.
Sterling slipped to a four-week low after the Bank of England stepped up bond purchases this week. The currencies of commodity-exporting nations weakened as oil sank below $43 a barrel and copper slipped to a four-week low. Taiwan’s dollar gained as foreigners boosted holdings of the island’s stocks. European equities fluctuated as Asia’s advanced for a fourth day. India’s bonds rose following a monetary policy review, while China’s benchmark yield dropped to a seven-year low.
Source: Bloomberg (9 August 2016)