Major Market Update The dollar rose versus its Asia- Pacific counterparts as investors await the release today of minutes from the Federal Reserve’s last meeting for signals on when it may curtail monetary stimulus. The Canadian dollar fell to the lowest in almost two weeks as oil, the nation’s biggest export, slid amid bets the Federal Reserve will slow monetary stimulus that has fueled demand for riskier assets as soon as next month. Australia’s central bank said the currency’s direction will be important in setting policy and signaled further interest-rate cuts remain a possibility, according to minutes of its Aug. 6 meeting at which it reduced its benchmark rate to a record-low 2.5 percent. Volatility in India’s rupee rose to a three-year high as the central bank’s steps to support growth countered concern the U.S. will pare stimulus as early as next month. The currency weakened in the spot market. 09935028511 China’s one-year interest-rate swaps halted an eight-day advance on speculation the increase was excessive.
Posted on: Thu, 22 Aug 2013 04:51:52 +0000
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