Asian shares treaded water on Tuesday ahead of a U.S. Federal Reserve policy meeting, hovering near six-month highs, while sterling was choppy as the speaker of Britain’s parliament banned another vote on same Brexit deal.
“Speculators appear to be betting on rise in stock prices on the back of a dovish Fed. The Fed is unlikely to kill such hopes. Yet there is a risk the Fed could tone down its dovishness,” said Masanari Takada, cross-asset strategist at Nomura Securities. Also expected is more detail on a plan to stop cutting the Fed’s holdings of nearly $3.8 trillion in bonds.
May’s Brexit plans were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in fundamentally different form.
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