US stocks retreat from a rally in late trade at the end of a volatile session, despite the Federal Reserve chairman reiterating that official US interest rates will remain on hold for now.
US stocks retreat from a rally in late trade after a volatile session, despite the Federal Reserve chairman reiterating that official US interest rates will remain on hold for now.AUD: 71.85 US cents, 54.20 British pence, 63.05 euro cents, 79.46 Japanese yen, $NZ1.0422Europe: FTSE 100 -0.5pc at 7,151, DAX +0.3pc at 11,541, CAC +0.1pc at 5,239, Euro Stoxx 50 +0.
He warned that uncertainty remained over issues such as Brexit and the US-China trade dispute and he said the Fed would carefully monitor developments. US bank JP Morgan said at its annual investor day that it expects to face rising costs for deposits and slowing global economic growth. The pound rose to the highest level against the euro since 2017. The opposition Labor Party also said it will support a second vote on Brexit.
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