Most Middle Eastern bourses in black on US inflation data

📆 4/2/2023 5:00 PM
📰 Reuters

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Saudi Arabia's stock market rose on Sunday as U.S. inflation data fuelled hopes the Federal Reserve may be reaching the end of its rate hiking cycle, although the Qatari index bucked the trend to close lower.

Most Gulf currencies are pegged to the U.S. dollar, and Qatar, Saudi Arabia and the United Arab Emirates usually mirror any monetary policy change in the United States.

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