It’s a big earnings week on both sides of the Atlantic. Facebook parent Meta smashes Q1 expectations with the stock soaring 18 per cent in after-hours trade. However, COO Sheryl Sandberg tells CNBC that the outlook remains challenging. Asia-focused lender Standard Chartered hikes income guidance after a strong start in 2022 but it remains cautious on Covid fallout in China. In foreign exchange news, the dollar hits a 20-year high against the yen after the Bank of Japan resists the urge to raise interest rates. The euro, however, falls to its lowest level against the greenback in five years as Russian gas payment tensions continue throughout the bloc.

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