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Most Asian markets down as traders eye key Powell speech

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The prospect of more US hikes to come has given another boost to the dollar, which rallied against the yen and is approaching the ¥140 mark for the first time in 24 years. – EPA pic, August 22, 2022.

ASIAN markets were broadly lower today as the rally from June’s lows runs out of steam owing to renewed concerns about Federal Reserve plans to ramp up interest rates to combat runaway inflation.

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All eyes are on a symposium in Jackson Hole, Wyoming where Fed boss Jerome Powell will deliver a speech that will be followed for an idea about the bank’s next moves.


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