TOKYO: A gauge of global stock markets edged near this year's peak while benchmark U.S. Treasury yields and the dollar dropped after the Federal Reserve signaled possible interest rate cuts later this year.
The rally in stocks comes as a host of Asian central banks are scheduled to hold policy meetings later in the day, with most expected to flag moves toward looser monetary settings. Many investors viewed the overall tone as more dovish than their expectations, sending the 10-year U.S. Treasuries yield to as low as 1.986per cent, its lowest level since November 2016.Channel NewsAsia - Sentifi topic widget
Many investors think rate cut expectations could be rolled back if Washington and Beijing make some headway in their talks. The Chinese yuan has recovered over the past couple of days on hopes of U.S.-China talks next week on the sideline of Group of 20 summit.The euro bounced to US$1.1254 after the Fed's dovish signals undermined the dollar's yield attraction, pushing the common currency away from this week's low of US$1.1181 touched on Tuesday.
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