* Dollar hits 2-
(Adds details, comments) By Simone Giuliani
* OPEC cut does little to stem price fall * U.S. crude inventories rise, demand outlook clouds over (Adds background, JPMorgan forecasts, updates prices)
* Aussie at two-month high vs U.S. dollar; steady vs yen * Fed’s cut boosts appetite for higher-yielding currencies
WELLINGTON, Dec 18 (Reuters) – The New Zealand dollar<NZD=> struck a five-week high on Thursday as the U.S. dollarcontinued to fall in the wake of a big interest rate cut by theFederal Reserve. The kiwi ignored the latest round of New Zealand governmentforecasts, which showed a deteriorating economic picture, aswell as a business survey showing businesses with a mixed viewover the business outlook.
* Nikkei rises 0.9 pct as banks gain after Fed rate cut * Investors await outcome of BOJ meeting, expect cut
What a hullaballoo. Poor old Commonwealth Bank [ASX: CBA] has dragged itself through the mud in the last 24 hours.
It is supposedly the safest and most conservative bank in Australia, thanks to the millions of ‘Dollarmite’ and pensioners passbook accounts. You only have to look at the recent stats on the inflow of [...]
* FTSEurofirst 300 falls 0.8 percent * Banks drop on renewed worries about losses
* Oils, miners top-weighted gainers * HSBC top loser on lingering fundraising concerns
* Economic outlook in focus after Fed rate cut * Morgan Stanley falls after wider-than-expected loss
