Tweaks to Fed Message Sends Asian Equities Higher

After the US central bank stressed that it would be “patient” as it assessed when to begin raising interest rates, investors took that as a signal that the first rate increase since the financial crisis was still some way off.

The S&P 500 finished the New York session 2 per cent higher, its first gain in four days, and the US dollar rose 1.1 per cent against a basket of rivals — its best session since October 3.

In Tokyo, the Nikkei 225 shot up 2.6 per cent, placing the average on course for its best session since October 31 when the Bank of Japan doubled down on its monetary easing programme. Sydney’s S&P/ASX 200 rose 1 per cent.

Financial Times

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