Asian Markets Up, Dealers Hang On Yellen Remarks

Asian markets up, dealers hang on Yellen remarks

HONG KONG, , (Pakistan Point News - APP - 14th Dec, 2016 ) - Most Asian markets rose Wednesday, tracking a seventh successive record on Wall Street as they wait for the conclusion of a keenly awaited Federal Reserve policy meeting. After months of betting the Fed will lift interest rates, the big day has arrived and investors will be hanging on every word bank boss Janet Yellen says in her post-meeting conference hoping for clues about future policy.

"The markets are sitting tight waiting for the Fed decision, but more so Dr Yellen's forward outlook and, of course, the accompanying statement," Stephen Innes, senior trader at OANDA, said. "As is the case with most Fed 'pressers', it will mainly involve deciphering the Feds verbal gymnastics while looking for a smoking gun - tonight's smoking gun will be in the form of a hawkish or dovish Fed lean." Global equities and the Dollar have rallied in the five weeks since Donald Trump won the US election, with traders betting his plans for big spending, tax cuts and deregulation will fan already healthy economic growth.