Telecom company Nokia will likely cut about 300 jobs in Finland, mainly at its headquarters, as part of a wider restructuring plan, a Finnish union representative told Reuters.
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SYDNEY, March 16 (Reuters) - The Australian and New Zealand dollars were little changed against the greenback on Tuesday as the market waited to see whether the U.S. Federal Reserve March 17 monetary policy decision addresses the recent spike in bond yields.
The Aussie dollar was trading only three basis points lower at $0.7752, in between its seven-week range of $0.75 and $0.80. It faces resistance at $0.7787 and has support at around $0.7714.
The New Zealand dollar was unchanged at $0.7199, far from its 2 1/2-year high of $0.7464 on Feb. 25, but also away from its recent trough of $0.7100 on Feb. 5.
“The market is really sitting tight waiting for the Fed decision, because the huge move in U.S. bond yields has been so key that the market really needs to see what they plan to do,” said Steven Dooley, APAC currency strategist at Western Union Business Solutions.
Russian shares hit another record high before slipping 0.3% Russia’s rouble pushed off eight-month highs against dollar
March 16 (Reuters) - Emerging market stocks rose on Tuesday, following an upbeat handover form Wall Street on economic recovery hopes, while currencies made muted moves with all eyes on the U.S. Federal Reserve’s policy decision.
MSCI’s index of emerging market shares was up 0.6% as U.S. treasury yields retreated, with most main indexes across Asia in the black. Turkey’s BIST rose 0.4% while Russia’s MOEX scaled record highs before retreating 0.5%.
Hungary’s main index hit two-week highs while Polish stocks added 0.3%.
Bank of Japan Governor Haruhiko Kuroda said on Tuesday it was important to keep long-term interest rates "stably low" as the economy is still suffering from the impact of the COVID-19 pandemic.
Bank of Japan Governor Haruhiko Kuroda on Tuesday stressed the need for the central bank to "prepare thoroughly" for the time it may need to issue its own digital currency.