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Small steps from stocks after rally, giant leap for yuan


Added 01-11-19 08:03:02am EST - “Soothing words from the world's top central banks helped stocks consolidate...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Small steps from stocks after rally, giant leap for yuan”. Below is an excerpt from the article.

LONDON (Reuters) - Soothing words from the world’s top central banks helped stocks consolidate a strong start to 2019 on Friday, while China’s yuan capped its best week since it shed its dollar peg in 2005.

Stock markets were lifted by more promises of patience from the Federal Reserve, the ECB mulling more cheap money and trade talks between Washington and Beijing moving to higher levels.

Asia crawled to a 5-week high and Wall Street futures were down a touch [.N] but European stocks [.EU] clung to a fourth day of gains and their longest winning streak since September.

The Fed’s dovish stance also pushed down the dollar [/FRX] and nudged Treasury yields [/US] lower after five days of gains, cheering emerging markets and restoring confidence after a brutal end to 2018.

Sterling also sparked into life after a report that top government members expect a Brexit delay. [GBP/]

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