Market Bizzz

A 5-year swing high represents the highest price a stock has reached within a five-year timeframe.

Powell did not comment on monetary policy or the economic outlook in prepared remarks at a U.S. central bank statistics conference on Wednesday. He is scheduled to speak at another conference on Thursday.

The unloved yen failed to get much of a boost from a fall in U.S. Treasury yields, with the 10-year rate marking its lowest close since mid-September overnight, but the yen sliding back towards 151 per dollar.

“So it’s difficult to see the EM currencies recoup some of the sharp losses that we’ve seen in the last few months. That said, we do expect some gains, it’s just going to be a bit more of a gradual path.”

Minneapolis Fed Bank President Neel Kashkari said the U.S. central bank may have to do more to bring inflation down to its 2% goal, given the recent spate of resilient economic data.