Friday, 17 March 2017

Asia stocks set to end week higher, Dollar slides after Fed >> Ripples Financial Advisory

Asian stocks crawled higher in early trade on Friday, set for its best week since September, while the dollar continued the slide that began after the Federal Reserve indicated it was unlikely to speed up monetary tightening. The dollar index, which tracks the greenback against a basket of six trade-weighted peers, retreated 0.1 percent to 100.26. It hit a five-week low on Thursday and is down almost 1 percent for the week.

The dollar was steady at 113.32 yen but is on track to post a 1.2 percent loss for the week.

While the Fed raised interest rates by 25 basis points on Wednesday, it kept to its original forecast of three rate hikes this year, disappointing investors who were expecting four.

US Treasury yields, which slid after the decision, staged a recovery on Thursday and continued to rise on Friday.

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