6 August
Only dollar keeps growing as rate increasing shakes stock markets
After new rate increases were delivered last week in the US and several other major world economies, forecasting upcoming difficulties. This caused stocks and bonds to tank. There was an intervention in currency trade performed by Japan, which was aimed at supporting the yen. The current circumstances have led to market participants losing confidence in economic management of Great Britain.
As it was said in Sydney by Ray Attrill, head of currency strategy at National Australia Bank, the weekend days were spent on contemplation, and it didn’t result in anyone reconsidering the situation.
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