The dollar nursed heavy losses in Asia on Thursday after the Federal Reserve stu...
SYDNEY - The dollar nursed heavy losses in Asia on Thursday after the Federal Reserve stunned markets by abandoning all plans to raise rates this year, a signal its three-year campaign to normalise policy might be at an end.
The Fed’s swerve sent the dollar sliding to 110.67 yen, with its 0.6 percent loss overnight the biggest drop since the flash crash of early January. “The median 2019 projection is for no hikes, a strong majority of 11 among 17 at zero; a dramatic shift from just two members looking for no Fed hikes in 2019 back in December.”
Investors reacted by wagering the next move in rates would be down, with fund futures now implying around 11 basis points of easing by December. That need for stimulus means many central banks will not want to see their currencies appreciate against the dollar, giving them reason to sound even more accommodative.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar inches higher ahead of Fed decision, British pound collapses on Brexit extension talkThe U.S. dollar bucks its recent downtrend on Wednesday ahead of the Federal Reserve’s monetary policy update.
Read more »
Asia shares, bonds buoyed as Fed seen dovishAsian share markets crept ahead on Monday while bonds were in demand globally on...
Read more »
Dollar licks wounds after soft data fans bets on dovish FedThe dollar licked its wounds on Monday after soft U.S. data increased bets the F...
Read more »
Dollar licks wounds after soft data fans bets on dovish FedThe dollar licked its wounds on Monday after soft U.S. data increased bets the F...
Read more »
Asia shares, bonds count on Fed to be accommodativeAsian shares pulled ahead on Monday while bonds were in demand globally on mount...
Read more »
Dollar on back foot after soft data fans bets on dovish FedThe dollar licked its wounds on Monday after soft U.S. data increased bets the F...
Read more »
Gold gains for second day as dollar dips ahead of Fed meetGold prices rose for a second straight session on Monday, as the dollar slipped ...
Read more »
Asia markets slip ahead of Fed meetingShares in Asia slipped in Tuesday morning trade, ahead of a closely watched meeting by the U.S. Federal Reserve set to kick off later in the day stateside.
Read more »
Dollar weaker on dovish Fed bets, sterling seesawsThe dollar was under pressure on Tuesday, weighed by growing expectations the Fe...
Read more »
Dollar near two-week low before Fed meeting, yen strengthensThe dollar was on the defensive on Tuesday, weighed by growing expectations the ...
Read more »