Thanks to the US Federal Reserve, Asia's markets have slightly been lifted after the US central bank acted with utmost consideration to its monetary policy strategy during its latest meeting. Asian stock markets are now tracking their gains on Wall Street after the US Fed's action. Federal Reserve chair Janet Yellen expressed concerns about the weak global economy, hence the action of scaling back the number of interest rate increases it plans to make this year. After the Fed's two-day meeting, the US dollar weakened, stimulating gains in emerging Asian currencies like the South Korean won and Malaysian ringgit. Japan's Nikkei and the broader Topix both rose about 1.2%. Korea's Kospi gained 1% while Australia's S&P/ASX 200 went up by 1.3%. Here's the article on the story: http://www.bbc.com/news/business-35828739
I'm glad Federal reserves are backing us up and hopefully this move does not impair or present problems to their local stock market. It's easy to understand why the global economy is underperforming. Terrorism is rife and many countries are closing their doors on refugees. Also, many economies that used to participate in the global market are currently at a standstill. The EU is in a bad place what with Greece withdrawing from the Eurozone and Britain about to follow suit. This situation is bound to happen.
What would be a effect of a UK withdrawal from the EU in terms of the value of the pound ? I've got property investments in Spain and the United States and the pound has always been fairly stable against the Dollar and the Euro, should I consider getting out of them in anticipation of a possible British exit from Europe ?
Well the market being up is helpful. Hopefully this will translate into worldwide prosperity and everyone's stock exchanges will rise. I always like to hear about postive economic stories.
