Reuters: US Dollar Report: GLOBAL MARKETS-Dollar, shares subdued as Fed keeps markets on edge

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GLOBAL MARKETS-Dollar, shares subdued as Fed keeps markets on edge Jun 18th 2013, 07:36 Tweet Share this Email Print Related Topics Stocks » Currencies » Markets » Cyclical Consumer Goods » Financials » Industrials » Tue Jun 18, 2013 3:36am EDT * European shares open down 0.3 percent, Nikkei ends down 0.2 pct * Dollar rises vs yen, choppy against basket of key currencies * Oil inches up, gold falls By Marc Jones LONDON, June 18 (Reuters) - Global markets mostly stuck to tight ranges on Tuesday, with uncertainty about the future of the U.S. monetary stimulus programme keeping investors on edge as the Federal Reserve prepared to meet. The U.S. central bank kicks off a two-day meeting later in the day and markets are on alert for any guidance on when and how quickly it will look to wind down its bond buying programme. After a calmer day on Asian markets, European shares opened down 0.3 percent, giving back some of the previous day's gains. "I don't think we will get any great retreat from the expectation that tapering (slowing of bond purchases) is really quite imminent," said Nick Beecroft senior market analyst at Saxo Bank. "I think the Fed is secretly sitting with its fingers crossed, hoping that the froth continues to be skimmed off asset markets. I don't think they will be bothered at all if the S&P500 or other risk markets fall 5 or 10 percent, as long as it didn't happen in a (single) day." The dollar hovered above a two-month low against the yen while Comments from European Central Bank chief Mario Draghi that the bank remained ready to cut rates again if needed added some extra pressure to an already slightly lower euro. In the debt markets, German Bund futures dipped in line with U.S. Treasuries on the expectations the Fed may signal it is moving closer to trimming its bond purchases. Analysts also had one eye on the release of Germany's ZEW business sentiment survey at 0900 GMT. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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