Most Asia stocks slide on Fed officials' rate comments, dollar firms

August 29th, 2016 by admin Leave a reply »

Most Asia stocks slide on Fed officials' rate comments, dollar firms

A man walks past a screen displaying the Nikkei average outside a brokerage in TokyoMost Asian share markets tumbled on Monday while the U.S. dollar added to gains made after Federal Reserve Chair Janet Yellen indicated a U.S. interest rate increase remains on the cards for this year. Japan’s Nikkei bucked the trend and climbed 2.3 percent, the biggest one-day gain in three weeks, as the yen weakened against the resurgent dollar. The case for a U.S. rate hike has strengthened in recent months, with a lot of new jobs being created, and economic growth looks likely to continue at a moderate pace, Yellen said in a speech at the Fed’s annual monetary policy conference in Jackson Hole, Wyoming, on Friday.

Source
Business News Headlines – Yahoo! News

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