Vertigo: Markets Still Grinding Higher (Just Don’t Look Down!)

Speculation about Japanese rate hikes drove a rebound for the yen, which ended with the biggest weekly gain vs the USD since July. The dollar fell 1.18% on the day to 149.76 yen, under pressure after Japan’s government finalised a stimulus budget and inflation in Tokyo came in hotter than economists forecast. ASX property stocks were the worst performing, sliding 0,7 per cent. Goodman Group shares dropped 0.8 per cent to $37.91 and Westfield parent Scentre was down 1.1 per cent to $3.68. The falls come as economists from three Australian banks – ANZ, AMP and Bank of Queensland – […]