Speculations of Fed funds rate hike in June rekindled, driven by better-than-expected US data and Fed presidents’ comments. Wall Street reversed earlier gains as pressured by consumer staples and utility, with DJIA and S&P 500 losing -1.02% and 0.94% respectively. US dollar weakened a tad against commodity currencies but is recovering ground in Asian morning on Wednesday. In the commodity sector, energy prices extended strength amidst hopes of better US growth outlook, decline in oil inventory…
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Fed Presidents’ Comments and Strong Data Lift Hopes of June Rate Hike
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