LONDON (Reuters) – The global stocks rally was back on track on Tuesday, with more support from the Federal Reserve and the Bank of Japan helping end a bumpy few days for financial markets.
FILE PHOTO: A man wearing a protective face mask walks past the London Stock Exchange Group building in the City of London financial district, London, Britain, March 9, 2020. REUTERS/Toby Melville
A nearly 5% jump by Japan’s Nikkei ensured the best day for Asian equities since late March and almost 2% rises from London, Paris and Frankfurt got Europe off to a fast start. <0#.INDEXE>
Talk that U.S. firms may be allowed to work with China’s Huawei on new 5G standards eased trade jitters, and a report of a new $1 trillion U.S. infrastructure programme also boosted markets.
“It is a buy-the-dip mentality,” John Hardy, head of FX strategy at Saxo Bank, said after risk-sensitive currencies such as the Australian dollar also mad