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KUALA LUMPUR: The ringgit is expected to benefit from firmer Asian currencies benefitting from the interest rate as well as growth differentials between the region with industrial economies, AmBank Research said.
WASHINGTON: The U.S. economy could benefit if the nation were to "lock down really hard" for four to six weeks, a top Federal Reserve official said on Sunday, adding that Congress can well afford large sums for coronavirus relief efforts.
SHANGHAI: Foreign investors made record net purchases of Chinese bonds traded through the country’s Bond Connect programme in July, boosted by record yield premiums over US debt.
WHEN chairman Jerome Powell (pic) announced after last Wednesday’s Federal Open Market Committee meeting that the Fed is “committed to using its full range of tools to support the US economy in this challenging time”, the market interpreted it as the Fed would do “whatever it takes” to support the United States facing the worst pandemic and economic recession since the 1930s.
RISK appetite improves after the US Federal Reserve vows to support the virus-battered economy, sending the dollar to a two-year low of 93.39, down 1.11% week-on-week (w/w).
BOSTON: Stock markets, oil prices and the dollar slid on Thursday as new government data underscored the deep economic impact of the coronavirus and U.S. President Donald Trump raised the possibility of delaying the November election.
NEW YORK: Any potential conflicts that may arise from having investment giant BlackRock Inc buy corporate bonds and commercial mortgages on behalf of the Federal Reserve (Fed) are being managed “extremely carefully, ” Fed chair Jerome Powell said on Wednesday.
SYDNEY: Asian stocks were boosted on Thursday by the promise of ultra-easy monetary policy globally as the U.S. Federal Reserve pledged to support the country's virus-battered economy, though record-shattering COVID-19 cases tempered gains.
NEW YORK: Asian stocks were set to track an upbeat Wall Street session on Thursday after the Federal Reserve kept interest rates at ultra-low levels, while the U.S. dollar fell to a two-year low.