But the rise in 10-year US government bond yields back above 2.32 per cent helped the dollar to a six-week high of close to 113 yen and 4-month highs against the Aussie dollar. "The dollar is strong after the Fed but the euro cannot go down at the moment. It was marginally higher at 112.80 yen but more than a third of a percent stronger at $0.7394 per Aussie dollar and 0.2 per cent higher against the New Zealand dollar. Such nerves over China come at a time when growth in Europe seems to be solidifying and the Fed has finally begun to deliver on long-disappointed market expectations of a cycle of interest rate hikes. That kept the door "wide open" to a June rate hike, said Mitul Kotecha, head of Asia macro strategy for Barclays in Singapore.
referring to
Consumer demand fears knock global stocks, dollar up before Fed decision By Reuters
After a mixed Asian session, with a number of major markets closed, the MSCI global share index was marginally lower on the day. "Concerns about geopolitical risks such as North Korea had weighed on the dollar against the yen recently ... Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore, said the weak U.S. auto sales could make market participants wary of actively buying the dollar against the yen for now. France's CAC 40 ( ) and Germany's DAX ( ) fell 0.25 and 0.1 percent respectively while the resource-heavy FTSE 100 ( ) dipped 0.3 percent. But the focus is shifting to whether the (strength) of U.S. economic fundamentals is for real," he said.
Stocks struggle, dollar gains ahead of Fed decision
The dollar index, which tracks the greenback against a basket of trade-weighted peers, rose 0.1 per cent to 99.055. After a mixed Asian session, with a number of major markets closed, the MSCI global share index was marginally lower on the day. "Concerns about geopolitical risks such as North Korea had weighed on the dollar against the yen recently ... France's CAC 40 and Germany's DAX .GDAXI fell 0.3 and 0.2 per cent, respectively, while the resource-heavy FTSE 100 dipped 0.3 per cent. But US economic numbers in the past month have been less convincing, and the latest gains for global share prices look as much the product of an improving recovery in Europe as the US-based optimism that dominated the end of last year.
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