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The Japanese yen is languishing near 15-year lows against the euro and seven-month troughs against the dollar, with markets expecting the Bank of Japan to hold off on monetary policy changes for the time being. Meanwhile, the euro is set for its best week since November after the European Central Bank (ECB) signalled further rate hikes, raising borrowing costs to a 22-year high. The US dollar has fallen broadly due to a run of soft economic data, with traders rationalising that interest rates in the US needn't increase too much more.

The world was rocked on 24 February as Russia began a full-scale invasion of Ukraine, and there was immediate reaction from markets

Allianz Global Investors selects global CIO for multiasset Allianz Global Investors selects global CIO for multiasset Mr. Hirt will replace Ingo Mainert, CIO for multiasset Europe, who held the role on an interim basis in addition to his responsibilities, following the death of Thomas Zimmerer in November. Mr. Hirt is to join the firm July 1 and be based in Frankfurt. He will focus on client demand, including risk management and multiasset liquid alternative strategies, and report to Deborah Zurkow, global head of investments. "As well as significant experience across asset management an...