GLOBAL MARKETS-Asia stocks gain, dollar struggles as Fed sets stage for rate cut
By Editor - Wed Jul 10, 11:26 pm
Asian stocks advanced and the dollar struggled on Thursday, after Federal Reserve Chairman Jerome Powell reinforced prospects for a U.S. interest rate cut later this month. In his first day of testimony before Congress on Wednesday, Powell confirmed that the U.S. economy was still under threat from disappointing factory activity, tame inflation and a simmering trade war. Powell said the central bank stands ready to “act as appropriate”.
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