While you were sleeping: Oil climbs above US$50

Thu, 18 Aug 2016

By Margreet Dietz Aug. 19 (BusinessDesk) - US Treasuries gained, as did the price of oil, while the greenback weakened, amid renewed bets that the Federal Reserve might hold off raising interest rates this year. Wall Street was mixed, trading near record highs. Minutes from the July Federal Open Market Committee meeting, released on Wednesday, suggested the central bank won’t hike rates at its next meeting in September, or even at all in 2016. “Central banks are going to remain quite accommodating,” Benno Galliker, a trader at Swi...

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