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Prospects Daily: Chinese Yuan rises to 19 year high, Eurozone and developing countries’ manufacturing PMIs drop

Global Macroeconomics Team's picture
Financial Markets… The Euro and European shares rose slightly after the European Central Bank (ECB) cut its benchmark interest rate to a fresh record low of 0.5%. The single currency gained for a fifth day versus the dollar, climbing 0.1% to $1.3198 in afternoon trading in London, while it rose 0.7% to 129.28 yen. The Stoxx Europe 600 stock index strengthened 0.3%, bouncing back from earlier loss in morning trade.