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BusinessAFP NewsDow finishes above 40,000 for first time as rally pauses in Europe
The Dow scored its first-ever finish above 40,000 points Friday in a flourishing end to a week of records after a subdued session in Europe and a rally in some Asian markets.But European markets were hit Friday by a round of profit-taking.
- BusinessReuters SG
EMERGING MARKETS-Asian FX ease, stocks struggle for direction on US rate uncertainty
(.) * South Korean won falls 0.9% * Indonesia's stocks jump 1.1%, hit 7-week high * Malaysian stocks at highest level since March 1, 2022 * Indonesia and South Korea rate decisions expected next week By Poonam Behura May 17 (Reuters) - Emerging Asian currencies edged lower on Friday, while stocks largely flitted in and out of negative territory, as hawkish comments from Federal Reserve officials clouded the timeline for potential U.S. rate cuts. A market rally sparked by softer U.S. inflation fizzled out as the greenback rebounded following a tight labour market data and caution from central bankers about inflation. "While USD may adjust lower in light of recent softness in U.S. data, there may also be a limit to how much lower the USD can go as the USD still retains a carry advantage, broadly," OCBC currency strategist Christopher Wong said.
BusinessReutersDollar mostly flat as market mulls inflation outlook
NEW YORK/LONDON (Reuters) -The dollar retreated against major currencies on Friday as market speculation continues to swirl about the timing of Federal Reserve interest rate cuts amid signs of cooling yet persistent inflation and a softening U.S. economy. The euro rose 0.06% against the dollar to $1.0872.
