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International Business Times
International Business Times
Business
AFP News

Asian Markets Rally On Renewed US Rate Cut Hopes

United States the Federal Reserve US Federal Reserve Interest Rates Inflation
The dollar dipped against its major peers on bets the Federal Reserve will cut interest rates this year (Credit: AFP)

Asian markets rallied and the dollar weakened on Monday as a closely watched US inflation gauge dipped in April, reviving hopes that the Federal Reserve will cut interest rates this year.

News that the personal consumption expenditures (PCE) index slowed month-on-month to its lowest level since December provided a much-needed boost to investors' sentiment after a recent pull-back.

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