Macroeconomic round up: Dovish Fed sends markets into a frenzy
US Federal Reserve chairwoman Janet Yellen is back at it again. With special feature audio.
US Federal Reserve chairwoman Janet Yellen is making more dovish comments, sending markets into a spin.
It didn’t take much. In a speech this week, Mrs Yellen said she considered it “appropriate for the committee to proceed cautiously in adjusting policy,” meaning the likelihood of more interest rate hikes is less likely.
That sent the US dollar down against many currencies, including the euro, Aussie dollar and the kiwi.
The kiwi dollar jumped to almost 70c against the US dollar for the second time in less than two weeks.
As the greenback fell, the US stock market climbed. The Dow Jones has now posted 17 daily gains so far this March, making it the most positive session in a month is six years.
Stocks in Europe also increased. But Japan’s Nikkei fell, although that was due to its industrial output dropping by 6.2%.
Yesterday, John Key met Mrs Yellen to “seek perspective on the global and US economies.”
Mr Key is in Washington to attend the fourth and final Nuclear Security Summit today.
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Fri, 01 Apr 2016
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Macroeconomic round up: Dovish Fed sends markets into a frenzy
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