Asian equities and currencies jump on dovish Fed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Asian shares rallied across the board as buying interest spiked after he US Federal Reserve reduced the number of interest rate hikes expected this year.

    MSCI's broadest index of Asia-Pacific shares outside Japan climbed to a two-month high and traded at least 1.5% higher on the day. Japanese Nikkei was weighed down by strong Yen. The index is currently trading 0.20% lower on the day.

    Asian equities took cues from risk-on action on Wall Street. The S&P 500 closed at its highest level this year following dovish Fed.

    Among regional indices, Australian stocks added 0.8%, South Korea's Kospi rose 1.2% and Shanghai was up 0.6%.
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