India, Aug. 25 -- The antipodean currencies such as the Australia and New Zealand dollars strengthened against their major currencies in the Asian session on Monday, as Asian stock markets traded higher, on an improved outlook for interest rates after US Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole on Friday. Powell said economic risks are 'shifting' and a rate cut may be warranted.
He added that "risks to inflation are tilted to the upside, and risks to employment to the downside - a challenging situation". His remarks have increased investor confidence that the Fed will lower interest rates next month.
Following Powell's remarks, CME Group's FedWatch Tool jumped to indicate an 85.2 percent chance the Fed w...