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Dollar sees safe-haven gains; sliding yen stays on
intervention watch
Gold eases, investors
seek more cues on Fed’s rate path.
Meanwhile, Oil extends
losses as dollar strengthens following Trump attack.
In company news, Luxury
goods maker Burberry tumbled
as it ousted its chief executive, suspended dividend payments and issued a
profits warning after a slump in first-quarter revenues due to weak demand in
all markets.
Chris Beauchamp, chief
market analyst at online trading platform IG,
said: "This is a kitchen sink exercise par excellence, and underscores the
enormity of the challenge facing Burberry in a world where Chinese sales can no
longer be taken for granted.
"However, as one of the more heavily-shorted FTSE shares,
and trading at 11 times earnings, perhaps today might see at least a short-term
pop for the share price, on the basis that most of the bad news is now firmly
in the price."
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