The Bank of Korea cut benchmark interest rates for a second straight meeting to 3.00%, an outcome only four of 38 economists polled by Reuters foresaw. The bank’s seven-member board voted five-two for the cut.
The yen weakened slightly through the Asia session. But at 151.59 per dollar, it is up 2.4% this week and has recovered losses suffered since the U.S. election. Markets see about a 55% chance the Bank of Japan hikes rates next month.
Gold prices fell slightly in Asian trade on Thursday after signs of sticky U.S. inflation and a strong economy sparked doubts over just how much the Federal Reserve will cut interest rates.
Trump’s administration wants to shift a bulk of crypto regulatory oversight to the Commodity Futures Trading Commission from the Securities and Exchange Commission, Fox Business reported on Wednesday.
Asian shares fell on Thursday and the dollar firmed slightly as investors pondered U.S. data that showed progress in slowing inflation had stalled even as the economy remained resilient, while rising geopolitical worries kept risk sentiment in check.
