Risk Appetite Wanes on Rate Hike Speculations

Reduction in risk appetite continues to support USD's recovery and weigh on risk assets. European bourses opened lower, led by Asian stock markets which tumbled amid tightening concerns in the region. The rate hike announced by the Bank of Korea reminded us of huge capital inflows to emerging economies after Fed's easing measures weakened the dollar. It seems inevitable for other countries such as China to accelerate tightening.

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Risk Appetite Wanes on Rate Hike Speculations