Hopes for a ceasefire in the Middle East have seen oil prices drop. Photo: DAVID MCNEW / Getty Images North America/Getty Images via AFPAsian markets extended a rally Tuesday following advances on Wall Street, while the yen held gains after the previous day's sharp swings and focus turned to the Federal Reserve's upcoming policy decision.titans including Alphabet and Microsoft, has been a key driver of the latest advances, offsetting fading hopes for a US interest rate cut this year.
Since the start of 2024, traders have been lowering their expectations for how many reductions the bank will make as inflation continues to hold above target and various indicators show theStill, investors have largely come to terms with the fact that interest rates will remain elevated for an extended period and are taking heart from the strong corporate reports.
Tokyo piled on more than one percent as it played catch-up with Asia's gains on Monday, which was a Japanese holiday. That makes the Fed's meeting even more crucial, with observers warning that a more hawkish tilt could see the dollar spike again, though many warn the yen will likely hit 160 again owing to the wide differences in the central banks' monetary policies.
Source: Financial Digest (financialdigest.net)
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