Emerging shares, currencies rise on dovish Fed

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Emerging market currencies hit their highest level in nearly four months on Nov. 29 and stocks gained as dovish remarks from the U.S. Federal Reserve Chairman Jerome Powell put the dollar on the back foot.

However, stocks markets in China and Hong Kong weakened as a cautious mood crept in ahead of the high-stakes meeting between  U.S. President Donald Trump and Chinese President Xi Jinping at the G-20 Summit this week.

Powell said on Nov. 28 the central bank’s policy rate is now “just below” estimates of a level that neither brakes nor boosts a healthy U.S. economy.

More: Emerging shares, currencies rise on dovish Fed

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