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Dollar Attempts Comeback
China’s equity markets now seem to be isolated with their equity rout continuing (down -7.63% Tuesday) as concerns about a hard economic landing remain. Currently, the world’s second largest economy seems to be decoupling, temporarily at least, as other Asian markets stabilize or bounce back in the overnight session. China this morning has lowered interest rates for the fifth time since November and lowering the amount of cash banks must set aside (RRR). The People’s Bank of China (PBoC) easing policies will take effect tomorrow. Now the market has to wait and see if Chinese authorities have managed to stifle ... (full story)
