Gold is still up over US$130 in little more than a week as investors wager the Federal Reserve will reaffirm its super-easy policies at a policy meeting this week, and perhaps signal a tolerance for higher inflation in the long run. — AFP pic
“Fed officials have made clear that they will be making their forward guidance more dovish and outcome-based soon,” wrote analysts at TD Securities. Japan’s Nikkei firmed 0.3 per cent even as the yen held recent gains, while Chinese blue chips put on 0.6 per cent. The proposal could involve a cut in benefits to US$200 from US$600, which would be a big blow to household incomes and spending power.
Indeed, the dollar has been falling almost across the board in recent days, reaching a two-year trough on a basket of currencies at 93.416 before steadying at 93.793.
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