Fri, Aug 23, 2013 - Page 15 News List

Asia currencies slide after Fed minutes

TENTATIVE:Although the minutes did not give a clear indication of when tapering would start, markets reacted with falls in shares, rise in yields and dollar-buying, an expert said


“The majority of financial market participants is currently expecting that the Federal Reserve will announce the tapering of its asset purchase program at the upcoming meeting, in mid-September,” Harm Bandholz of UniCredit said.

“At the same time, the Fed might still be a bit farther away from changing the forward guidance than I thought so far,” he added.

“The committee turned a bit more bearish on the state of the economic recovery,” economist Paul Edelstein at IHS Global Insight said. “As such, we don’t expect tapering at the September meeting.”

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