Fed comments send dollar surging but equities subdued

The greenback rose against most emerging currencies, continuing a trend that has seen investors withdraw cash back to the United StatesThe dollar held gains against its major peers Thursday and rallied against most emerging currencies, but equities were broadly lower after the US Federal Reserve hinted at a possible December interest rate hike. While the Fed provided an upbeat assessment of the US economy after its latest policy meeting, the news took the wind out of an advance across global markets in October, which had been supported by expectations a rate rise would be delayed. Samsung Electronics jumped almost five percent at one point after announcing a $10 billion share buyback and a surge in net profit during July-September, providing support to Seoul’s broader index.

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