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Daily Market Outlook for 25.06.2013

The dollar's rally paused in Asia on Tuesday after two top Federal Reserve officials downplayed market fears of an imminent end to stimulus, though it remained supported by worries of the impact of tightening Chinese credit. China shares suffered their worst daily loss in almost four years in the previous session as the authorities seek to rein in excessive credit growth, raising concerns about a potential money market squeeze.

But the benchmark U.S. Treasury yield is down from a nearly two-year high touched in the previous session, she said, and that has also helped curb the dollar's ascent. The dollar and U.S. yields came off their peaks after Fed officials reassured investors who feared the impact of the Fed tapering its monthly $85 billion bond-buying programme.

Fed Chairman Ben Bernanke said last week that the central bank could trim its bond-buying programme later this year if the economy continues to improve as it expected. That helped propel the dollar index to a near three-week peak of 82.84 on Monday.

Tuesday, 25 Jun, 2013 / 7:40

Source : https://www.finfx.fi/en/daily-market-outlook-25062013

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