Fed's 'Great Unwinding' lifts dollar, yields and bank stocks - Business News - News Summed Up

Fed's 'Great Unwinding' lifts dollar, yields and bank stocks - Business News


They rose over 1.5 percent as a weaker euro helped the pan-European STOXX 600 generally too.Shorter-term, 2-year U.S. government bond yields, which move inverse to price, steadied after hitting their highest in nine years. The dollar's rise as far as 112.725 yen had been set its strongest mark since July 18. "Initial reaction is fairly straightforward," said Saxo Bank head of FX strategy John Hardy. "They (the Fed) still kept the December hike (signal) in there and the market is being reluctantly tugged in the direction of having to price that in. "The BOJ will patiently continue accommodative monetary policy to achieve 2 percent inflation... As such, we will take further monetary easing steps if necessary," its Governor Haruhiko Kuroda said at his post-meeting news conference.


Source: thestar September 21, 2017 09:00 UTC



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