The dollar rose in the aftermath of the Federal Reserve’s supersized rate cut, with traders waiting for decisions from the UK and Japanese central banks over the next 24 hours to assess their combined impact on markets.
The greenback gained against virtually every major currency after the Fed delivered a half percentage point rate cut, a move usually reserved for a crisis, while paving the way for more measured easing going forward. Sovereign bonds from the US as well as Australia and Japan came under pressure, while most stock indexes in Asia fell in early trade.
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