Asia stocks gain, dollar sags as Fed reinforces rate cut expectations
Updated : July 19, 2019 08:14 AM IST
The comments by Williams made it a virtual certainty the Fed would opt to cut interest rates by 25 basis points (bps) at its July 30-31 policy meeting and also fuelled expectations of an even deeper 50 bp reduction.
Australian stocks added 0.4 percent, South Korea's KOSPI rose 0.8 percent and Japan's Nikkei advanced 1 percent. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent, squaring the previous day's losses.
US Treasury yields were lower across the board in light of Williams' dovish views. The 2-year yield was at 1.7908 percent after touching a two-week low of 1.7520 percent.
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