Dollar sinks as equity market mood lifts, Fed in view | Malay Mail

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LONDON, Sept 14 — The dollar slipped today against its major peers as a wave of M&A deals lifted the mood in global equity markets and investors looked ahead to an event-packed week which includes a Fed meeting and the appointment of a new Japanese premier. The UK parliament was preparing to...

Speculators trimmed net short dollar positions for the second straight week to US$32.67 billion. — Reuters pic

The UK parliament was preparing to debate a draft bill which the government has admitted breaches the terms of its EU divorce treat. The currency nevertheless firmed 0.6 per cent versus the dollar following its weakest week since March. This week’s US Federal Reserve meeting will be its first since Chairman Jerome Powell unveiled a policy shift towards greater tolerance of inflation, effectively pledging to keep interest rates low for longer.

“Expectations are they could strengthen forward guidance, possibly by saying rates will be on hold for 3-4 years,” said Hardman, who remains bearish on the greenback.

 

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