Investing.com - Financial Markets Worldwide

Fed Concerns Cause FTSE Shares and Asian Currencies To Fall

ByFX Solutions
AuthorJames Chen
Published 11/13/2013, 07:18 AM
Updated 01/01/2017, 02:20 AM
UK100
0.66%
JP225
-0.20%
FTNMX301010
1.24%

Asian currencies and the FTSE 100 fell amid new concerns over the Federal Reserve's monetary policy.

The Fed renewed suggestions that it would begin rolling back its asset buying programme, which aided the US in its recovery from the global financial crisis. Atlanta Fed president Dennis Lockheart suggested on November 12th that a cut could be made during its December 17th-18th meeting, sooner than was expected.

On Wednesday at 08:41 GMT the FTSE 100 fell by 0.6 per cent to 6,686.97, with energy stocks and banks leading the decline.

In the Asian stock exchange, the Indian rupee fell to a two-month low due to rising concerns that interest rates would rise.

Singapore DBS economist Radhika Rao explained to Reuters that increasing concerns over US tapering would cause the greenback to rise while Asian currencies declined.

The Japanese Nikkei also saw its stock average decline by 0.2 per cent.

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