by Chris Becker
Digestion of the Federal Reserve’s interest rate meeting last night continued in the Asian session today with the USD continuing to sell off against the majors, except Australian dollar which remains steady post CPI release.
Asian stock markets are mixed as a higher Yen is pushing the Nikkei down, closing 1% lower, while Chinese stocks are slipping. The Shanghai Composite has not followed through with yesterdays slump, currently putting in a scratch session after dropping before the long lunch break. The standout again is the ASX200, up 0.3% to 5555 points, mainly on the back of miners, with gold stocks soaring, while bank stocks had a mild selloff today, in opposite to their usual positive correlation with the German DAX.