Feb 1, 2021 19:17 GMTFXStreet News
Dallas Federal Reserve President Robert Kaplan noted on Monday that he is concerned about the downside risks of the coronavirus variants, as reported by Reuters.
Additional takeaways
“I believe mobility will improve this year if get the vaccines rolled out and they are effective against variants.”
“Forecast for 5% growth this year depends on continued support for unemployed, and for vaccine rollouts.”
“Will want to see real evidence we have weathered pandemic before adjusting asset purchases.”
“The wisest thing now is to let the economy unfold, be patient, don’t prejudge.”
Market reaction
The US Dollar Index showed no immediate reaction to these comments and was last seen gaining 0.4% on the day at 90.95.Get the 5 most predictable currency pairs
<div class="at-above-post addthis tool" data-url="https://www.metro.us/feds-kaplan-hopes-to/"></div>(Reuters) – Dallas Federal Reserve President Robert Kaplan on Monday said he expects broad vaccine distribution to unleash strong economic growth later this year, allowing the U.S. central bank to begin to pull back on some of its extraordinary monetary support. “We should be as aggressive as we can be while we are in the […]<! AddThis Advanced Settings above via filter on get the excerpt ><! AddThis Advanced Settings below via filter on get the excerpt ><! AddThis Advanced Settings generic via filter on get the excerpt ><! AddThis Share Buttons above via filter on get the excerpt ><! AddThis Share Buttons below via filter on get the excerpt ><div class="at-below-post addthis tool" data-url="https://www.metro.us/feds-kaplan-hopes-to/"></div><! AddThis Share Butto
Korean won weakens against U.S. dollar South Korea benchmark bond yield rises
SEOUL, Jan 12 (Reuters) - Round-up of South Korean financial markets: South Korean shares fell on Tuesday, tracking Wall Street losses, as investors worried equities may be running too hot and weighed the possibility of tapering by the Federal Reserve. The Korean won weakened, while the benchmark bond yield rose. By 0132 GMT, the benchmark KOSPI fell 13.92 points, or 0.44%, to 3,134.53. The KOSPI has risen 9.09% so far this year, and gained 21.0% in the previous 30 trading sessions. Foreigners were net sellers of 445.6 billion won ($405.21 million) worth of shares on the main board. There is some profit-taking as investors began to debate whether higher interest rates in the United States could jeopardize the current environment of easy financial conditions, said Seo Sang-young, an analyst at Kiwoom Securities.
U.S. Treasury bonds yields rose to the highest levels since March Tuesday, extending a sell-off in fixed income markets linked to concerns over government borrowing, simmering inflation and a possibly hawkish Federal Reserve.