HONG KONG, Nov 4 ― The dollar lost ground on the euro and sterling today after the US Federal Reserve said it would not rush to raise interest rates even as it began unwinding its pandemic-era stimulus. The Fed, yesterday, announced a US$15 billion (RM62.3 billion) monthly cut to its US$120...
HONG KONG, Nov 4 ― The dollar lost ground on the euro and sterling today after the US Federal Reserve said it would not rush to raise interest rates even as it began unwinding its pandemic-era stimulus.
Sterling climbed to US$1.3695 in Asian hours today, extending yesterday's 0.51 per cent gain due to the more dovish Fed, and recovering from Tuesday's two-week low of US$1.3603. Market attention is now turning to how long the Fed can defer rate rises, given fears that high inflation could last longer than the Fed had initially projected.
A busy two weeks of central bank meetings comes to an end with the Bank of England meeting on Thursday when it could become the first of the world's big central banks to raise rates since the coronavirus pandemic hit.
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