Asian share and dollar see fall with fears over US tariffs on Chinese imports
Atheer – External Sources
Shares faltered and the dollar skidded on Wednesday, as investors fretted over the threat of new US tariffs on Chinese imports, brushing aside data that showed that the Asian economy got off to a solid start in 2018.
Reuters reported that investor appetite for risk was also hit by US President Donald Trump’s move to fire his Secretary of State, reinforcing market uncertainty about Trump’s future policies.
In a sign that the equity market sell-off would extend elsewhere, S&P E-Mini futures ESc1 were down 0.1 percent, while FTSE futures FFIc1 slipped 0.3 percent.
All that put together meant dollar weakness across a basket of currencies, easing somewhat to 106.5 yen.
The yen did dip briefly after minutes of the Bank of Japan’s January meeting showed that most policymakers shared the view that the central bank should persistently pursue powerful monetary easing.
The euro rose overnight to edge towards a recent one-month top of $1.2446. It was last at $1.2405, while the pound was firmer at $1.3989.
In commodities, oil prices were mixed US crude CLcv1 up two cents at $60.73 and Brent LCOc1 fell ten cents to $64.54.