Asia stocks rise, dollar sags as Fed chair sets stage for rate cut

TOKYO: Asian stocks rose and the dollar sagged on Thursday after Federal Reserve Chair Jerome Powell reinforced prospects of a U.S. interest rate cut later this month.

"The focus going forward is U.S. data, such as tonight's CPI, and whether the economy warrants a 50 basis point rate cut this month." But the Fed chair's cautious stance on the world's largest economy helped revive views of a chance of heftier easing at the next Fed policy meeting on July 30-31.The chance of a 50 bps cut rose to 27.6per cent from 3.3per cent on Tuesday, according to CME Group's FedWatch tool.

The greenback was down 0.15per cent at 108.320 yen, forced off a six-week high of 108.990 scaled the previous day.The Australian dollar was steady at US$0.6961 following an overnight rise of 0.5per cent against the broadly weaker dollar. The surge helped the Aussie pull away from a 2-1/2-week trough of US$0.6910.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Asian stocks hobbled by fading expectations for aggressive Fed rate cutAsian stocks struggled to rebound on Tuesday as investors came to terms with sharply reduced expectations the Federal Reserve will deliver a large ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

US stocks mixed ahead of Fed chief testimonyNEW YORK: Wall Street stocks finished mixed on Tuesday (Jul 9) ahead of a congressional appearance by Federal Reserve Chairman Jerome Powell as ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »