The yen was on track for its largest daily gain since May 2017 as investors moved into the safe-haven currency. It had strengthened to as high as ￥107.52 versus the US dollar and was last trading up 1.51 percent at ￥107.92. The US dollar index was last down 0.324 percent to 98.127, down about 1 percent this week on rising expectations of a rate cut by the Fed. A cut of at least 25 basis points at the Fed’s meeting this month was fully priced in on Friday, versus expectations of 57.6 percent on Thursday. “It’s likely that markets will force the Fed to cut even before the March 18 meeting, and the question is, will that matter?

Source: Taipei Times February 29, 2020 15:56 UTC