peers: The dollar sagged against its peers on Powell's comments, which suggested the Fed's interest rate hike cycle may come to an end faster than initially anticipated, according to Nine News Australia. The Fed chair said on Wednesday that US policy rates were just below neutral, less than two months after saying rates were probably a long way from that point. To improve your experience update it here News World Stocks gain, US dollar sags after Fed talk11 57am Nov 29, stocks have rose, tracking a Wall Street rally as dovish comments from Federal Reserve Chairman Jerome Powell boosted investor sentiment towards riskier assets. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent. However, while a robust Wall Street buoyed Asian shares, gains in the region were nonetheless limited ahead of a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping due to take place on the sidelines of the G20 summit. Australian stocks gained 0.8 per cent and Japan's Nikkei climbed 0.9 per cent.
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