President Xi will join leaders of the Group of 20 members and heads of international and regional organizations in efforts to boost global cooperation in the fight against the COVID-19 pandemic.
USD steady in Asia as commods, virus worries provide bid
SINGAPORE, May 21 (Reuters) - The dollar hovered around recent lows on Friday and was set to notch a modest weekly drop as traders’ concerns at taper talk in Federal Reserve minutes faded, though a pullback in commodity prices and nerves about virus outbreaks kept losses in check.
The dollar has given back a bounce it made after a mention of possible future tapering discussions, in minutes from the Fed’s April meeting, prompted fears of early rate rises.
Investors now figure that any action remains a long way away and that the path might again be clear for a resumption of April’s downtrend as the U.S. trade and account deficits weigh.
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LONDON (Reuters) - World stocks steadied on Friday after a volatile week, taking their lead from a stronger Wall Street as U.S. data tempered inflation fears, while the dollar approached three-month lows on reduced bets of early Federal Reserve rate hikes.
FILE PHOTO: An investor looks at an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China April 16, 2018. REUTERS/Stringer
Inflation worries have spooked markets after recent data, and Fed minutes on Wednesday suggested a possible change in policy towards tapering bond purchases.
But on Thursday the Philadelphia Federal Reserve Bank said its business activity index fell to 31.5 in May from 50.2 in April, casting doubt on how fast the U.S. economy can continue to heat up.