Asian markets extended the previous day’s rally on Wednesday while the dollar also built on its New York gains that came after a strong US consumer confidence survey reinforced the view of a strong economy.
The greenback was given fresh impetus against the pound and euro as Prime Minister Theresa May prepares to officially fire the gun to start Britain’s exit from the European Union.
After more than a week of negativity, US traders finally saw a broad advance across equities and in the greenback as figures showed American shoppers were growing increasingly upbeat.
News that the consumer confidence index had hit a 16-year high helped soothe worries that President Donald Trump’s economy-boosting agenda could have been thrown off the rails by the collapse of his healthcare bill owing to splits in his Republican party. —AFP