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Asian shares falter, dollar jumps as Powell dampens hopes for more rate cuts

Updated : August 01, 2019 08:31 AM IST

MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.4 percent, extending losses for a fifth day to the lowest since mid-June.
Japan's Nikkei also fell 0.4 percent. South Korea's KOSPI slipped 0.5 percent while Australian shares declined 0.3 percent.
Speaking in a news conference after the release of the central bank's statement, Powell characterised the rate cut as "a mid-cycle adjustment to policy", citing signs of a global slowdown, simmering US trade tensions and a desire to boost too-low inflation.

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