Asian shares got off to a cautious start on Wednesday, holding close to six-mont...
TOKYO - Asian shares got off to a cautious start on Wednesday, holding close to six-month highs on hopes the U.S. Federal Reserve will stick to a dovish stance and unveil a plan to stop cutting bond holdings later this year.
Wall Street shares were narrowly mixed on Tuesday, with the S&P 500 losing 0.01 percent and the Nasdaq adding 0.12 percent. Financial markets have gone even further by pricing in a rate cut this year. Fed funds futures point to about a 30 percent chance of a cut by the end of year. Expectations of a dovish Fed have dented the U.S. dollar, which has already been under pressure this year after Powell all but signaled a pause to the tightening cycle at the previous meeting.
On the other hand, the EU’s chief negotiator, Michel Barnier, has said an extension would only make sense if it increased the chances of May’s deal being ratified by Britain’s House of Commons.Market players held on to hopes of a trade deal between Washington and Beijing as officials from both sides remained locked in negotiations.
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