SYDNEY, June 21 ― Asian shares are ending the week with a whimper after a rally to 26-month highs earlier this week drew profit-taking, while the strength in the US dollar as...
Nasi lemak, roti canai, teh tarik take centre stage at Geneva’s UN office as Malaysia champions intangible cultural heritage
Overnight, the Swiss National Bank cut rates for a second time while the Bank of England opened the door to an easing in August after holding rates steady. Sterling, the Swiss franc and the euro fell, lifting the dollar broadly. Data showed earlier in the day that Japan's demand-led inflation slowed in May, complicating the outlook for interest rate hikes.“We're seeing more and more of these central banks either open the door or continue cutting rates and that's a really good thing, particularly as we're starting to see some softer data consistently come out of the US,” said Tony Sycamore, analyst at IG.
In foreign exchange markets, the euro nursed losses at US$1.0705 , having fallen 0.4 per cent overnight as European rate cuts gathered pace, while sterling was flat at US$1.2658, the lowest in five months.
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