Dollar down in Asian trade

AFP, SINGAPORE: Uncertainty caused by the US Federal Reserve's decision not to hike interest rates last week sent forex traders running to safer assets yesterday, with higher-risk emerging-market currencies taking a hit.
While the announcement was initially welcomed in Asia on Friday, dealers in Europe and the United States were spooked by its citing of global turmoil and China's crisis as a key reason for standing still. Analysts also said it will prolong the guessing game about when rates will eventually rise, with two bank policy meetings to go before the end of the year.

 

Dollar down in Asian trade

AFP, SINGAPORE: Uncertainty caused by the US Federal Reserves decision not to hike interest rates last week sent forex traders running to safer assets yesterday, with higher-risk emerging-market currencies taking a hit. While the announcement was initially welcomed in Asia on Friday, dealers in Europe and the United States were spooked by its citing of global turmoil and Chinas crisis as a key reason for standing still. Analysts also said it will prolong the guessing game about when rates will eventually rise, with two bank policy meetings to go before the end of the year.