Asia Bizz: Global Stocks Surge Tremendously And The US Dollar Falls Face First
The Global stocks have surged tremendously this week, setting a five month high record and on the other hand the US Dollar, fell face first in the market. The fall in the Dollar appeared after Japan suddenly dropped its interest rates, which is a sign that other economic giants are taking initiatives to restabilize the wobbling global economy.
The first move was by the Bank of Japan, as it eased out its interest rates, but the Reserve Bank of Australia did not go ahead with the easing with its currency. These moves by other strong economies shows that their currency along with other strong economy currencies will be flooding the global markets.
The US on the other hand will be going ahead with policies to ease out their currency, until the economy shows some positive signs. The BOJ will purchasing 5 Trillion Yen worth of assets for the country and has brought the interest rates of the country down to almost zero, which has simultaneously brought positive growth in the in the Nikkei.