· The dollar hit a two-week low versus a basket of currencies on Thursday after minutes from the US Federal Reserve's latest meeting suggested some central bankers are still concerned about persistently low inflation.
The dollar index, which measures the greenback's value against a basket of six major currencies, touched92.827, its lowest level since Sept. 26. It was last down 0.2 per cent at 92.854.
The dollar slipped 0.1 per cent against the yen to 112.38 yen, but remained above Wednesday's intraday low of112.08 yen.
The euro touched its highest in more than two weeks at $1.1878, and was last up 0.1 per cent on the day at $1.1874.
· Dismissing below-target inflation as “not a current worry,” Kansas City Federal Reserve Bank President Esther George on Wednesday called for further gradual U.S. interest rate hikes to head off unwanted inflationary pressures.
“Low inflation, in itself, is not a problem in an economy that is growing and operating at full employment,” George said in remarks prepared for delivery at an event in Kansas City, Missouri. The speech was not on George’s public schedule.
“In such an environment, it is desirable to sustain the economic expansion by avoiding overheating and financial market instability. The best way to do that is to gradually adjust policy rates to more normal settings.”
· U.S. President Donald Trump said on Wednesday he was open to bilateral trade pacts with either Canada or Mexico if a three-way deal cannot be reached to substantially revise the North American Free Trade Agreement.
· President Donald Trump on Wednesday told workers that they would win under his tax plan, saying it would help the middle class and boost the economy, though critics say it would mainly benefit corporations and the rich.
His remarks came as new Reuters/Ipsos polling showed that more than three-quarters of Americans say the wealthiest Americans should pay more in taxes.
The poll found 53 percent of adults “strongly agree” and 23 percent “somewhat agree” that the wealthiest Americans should pay higher tax rates. The Sept. 29-Oct. 5 poll of 1,504 people has a credibility interval, a measure of accuracy, of plus or minus 6 percentage points.
· Japanese Prime Minister Shinzo Abe’s ruling bloc could come close to keeping its two-thirds “super” majority in an Oct. 22 lower house election, defying some predictions of substantial losses and solidifying his grip on power, a survey published by the Nikkei business daily on Wednesday showed.
Abe’s conservative Liberal Democratic Party (LDP) and its more dovish junior partner, the Komeito, are likely to secure more than 290 seats in the 465-seat chamber, the Nikkei said.
· Oil prices slipped on Thursday as U.S. fuel inventories rose and despite efforts by OPEC to cut production.
Brent crude oil was down 20 cents at $56.74 a barrel by 0730 GMT. U.S. light crude was 25 cents lower at $51.05. Both benchmarks have risen more than 20 percent from their lows in June as world oil markets have tightened.
Reference: Reuters,CNBC
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