Asia Stocks, Oil Jump as Dollar Sags After Fed
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Asia Stocks, Oil Jump as Dollar Sags After Fed – Reuters
Asian shares edged higher on Friday, oil touched a 2016 high and the U.S. dollar weakened as investors turned more positive on riskier assets after the Federal Reserve’s cautious stance on further interest rate increases.
Fed Holds Steady, Eyes Two Rate Hikes This Year
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Fed Holds Steady, Eyes Two Rate Hikes This Year – Reuters
The Federal Reserve held interest rates steady on Wednesday and indicated that moderate US economic growth and “strong job gains” would allow it to tighten policy this year, with fresh projections showing policymakers expected two quarter-point hikes by the year’s end, half the number seen in December.
Britain’s Fraud Office Drops Forex Market Investigation
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Britain’s Fraud Office Drops Forex Market Investigation – Reuters
Britain’s fraud watchdog has ended an investigation into possible foreign exchange market rigging, saying it did not have enough evidence to secure convictions, in a further setback to its efforts to prosecute wrongdoers in financial markets.
Fed to Sit Tight on Rates at March Meet, Hint at Hikes to Come
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Fed to Sit Tight on Rates at March Meet, Hint at Hikes to Come – Reuters
The Federal Reserve won’t raise interest rates this week, but will likely make clear that as long as U.S. inflation and jobs continue to strengthen, economic weakness overseas won’t stop rates from rising fairly soon.
China Burns Hedge Funds as $562 Million Yuan Bet Turns Worthless
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China Burns Hedge Funds as $562 Million Yuan Bet Turns Worthless – Bloomberg
The battle over the fate of China’s currency is starting to get bloody for the bears.
Draghi’s Stimulus Effect Fizzles as Euro Rallies to Reverse Drop
Draghi’s Stimulus Effect Fizzles as Euro Rallies to Reverse Drop – Bloomberg
It took less than 90 minutes for the euro to reverse all of the decline sparked by the European Central Bank’s package of monetary stimulus.
Turbulence for Euro Ahead of Expected ECB Monetary Easing
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Turbulence for Euro Ahead of Expected ECB Monetary Easing – Financial Times (subscription)
Turbulence in the euro dominated currency trading on the eve of the European Central Bank’s crucial policy meeting, amid heightened expectations it will expand monetary easing.
Mark Carney Says Brexit Is Biggest Domestic Risk to U.K. Financial Stability
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The Bank of England waded into the highly charged debate on the nation’s membership in the European Union, saying the possibility that Britain chooses to leave the bloc represents the biggest domestic risk to the stability of the U.K. financial system.
The Problem With the World’s Most Obvious Trade
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The Problem With the World’s Most Obvious Trade – Wall Street Journal (subscription)
This week should provide the perfect opportunity for betting on a stronger dollar, but not so fast. Read More
Pound’s Biggest Gain Since 2009 Signals `Brexit’ Anxiety Easing
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Pound’s Biggest Gain Since 2009 Signals `Brexit’ Anxiety Easing – Bloomberg
Easing anxiety over Britain’s potential exit from the European Union may be complemented next week by signs of a stronger U.K. economy, supporting the pound further after its best week since 2009 against the dollar.