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FEP - Dollar Pares Losses As Market Partly Corrects Confusion Of Magnitude And Timing Of Fed
First Trust Europe AlphaDEX Fund
Overview: Comments underscoring the importance of acting preemptively by two Fed officials sent the dollar reeling and helped lift equities after the S&P fell to a two and a half week low. The decline in rates and the US shooting down of an Iranian drone in the Gulf helped spur gold to new six-year highs. There was some attempt to clarify the (NY Fed's) comments and the dollar has pared yesterday's losses. However, there has not been a return to the status quo ante.
Asia Pacific equities rallied strongly, led by the Nikkei's 2% gain.