A look at the day ahead in Asian markets from Alden Bentley, Breaking News Editor for Finance & Markets, Americas.The week's main attraction, Fed Chair Jerome Powell's testimony before the U.S. House Financial Services Committee, came and went without rearranging the pieces on the table much.The Ja
A look at the day ahead in Asian markets from Alden Bentley, Breaking News Editor for Finance & Markets, Americas.
During the grilling by committee members, Powell pushed back on the description of last week's decision to hold its benchmark rate at 5-5.25 per cent as a"pause" from the aggressive 500 basis-point tightening since last March, saying two more 25 bp rate hikes by year end was"a pretty good guess." The Japanese currency remained under pressure in U.S. dealings after Bank of Japan Governor Kazuo Ueda on Wednesday reiterated the central bank's dovish stance to maintain its ultra-loose monetary policy.
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