Stocks rally, dollar slides as US vote outcome still unclear

5 November 2020, 5:03 pm

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Stock markets rally and the dollar slides against the euro and pound as US election uncertainty reigns ahead of a key Federal Reserve update.

The Fed is unlikely to offer much in the way of specifics Thursday at the end of its two-day policy meeting, besides repeating its commitment to keep the benchmark borrowing rate at zero for the foreseeable future.

But Fed Chair Jerome Powell could take the opportunity to signal a willingness to find new tools to help the economy, after the bank earlier this year pumped trillions of dollars of liquidity into the financial system and cut the US lending rate.

— AFP