Dollar drops vs yen, Asia stocks struggle as Fed looms

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TOKYO: The dollar ceded some of its overnight gains on Wednesday while Asian stocks struggled as traders weighed the odds of a super-sized Federal Reserve interest rate cut later in the day.

Wall Street finished nearly unchanged on Tuesday, failing to sustain early momentum that pushed the S&P 500 and Dow to record intraday highs.

"A 50 bps cut that scares markets about U.S.economic prospects could increase the USD because it is a safe haven currency," Clifton said.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaHong KongIsraelJapanSouth KoreaLebanonTaiwan

Topics: Stocks Commodities Equities Trading /Business/Business News Asia Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-18 @ 14:08:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 607 words

Reading Time: 4 minutes read

Sentences: 26 lines

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Copyright Owner: © The Star

News ID: 22574476

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