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Friday, October 21, 2016

Asia slips on weaker oil, Dollar near 7 month high as euro slips

The dollar was boosted by a fall in the euro after the European Central Bank shot down talk it was contemplating tapering its monetary easing - sending the euro lower.

Asian stocks slipped on Friday with a fall in crude oil prices dampening investor risk sentiment, while the dollar hovered near a seven-month high against an index of peers. The dollar was boosted by a fall in the euro after the European Central Bank shot down talk it was contemplating tapering its monetary easing - sending the euro lower.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent.South Korea's Kospi lost 0.4 percent and Australian stocks shed 0.3 percent.

Japan's Nikkei bucked the trend and rose 0.2 percent , brushing a six-month high, as the yen weakened against the dollar.

The ECB left its ultra-loose monetary policy unchanged on Thursday but kept the door open to more stimulus in December, with ECB President Mario Draghi dousing recent market speculation that the central bank may begin tapering its 1.7 trillion euro asset-buying programme.


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