Wall Street stocks finished a choppy session mostly lower while the dollar retreated yesterday after the Federal Reserve’s latest decision to hold interest rates steady. — Reuters picNEW YORK, May 2 — Wall Street stocks finished a choppy session mostly lower while the dollar retreated yesterday after the Federal Reserve’s latest decision to hold interest rates steady.
He maintained that monetary policy needs more time to do its job, adding that the Fed will consider the totality of economic data when making decisions.Art Hogan of B. Riley Financial said stocks often “whipsaw” right after Fed decisions. The pullback in the US currency included a brief drop of three per cent against the yen to 153.04 yen amid speculation of intervention by Japanese authorities. However, the rally in the Japanese currency proved fleeting.
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