Global Markets - Focus firmly on Fed, oil pulls out of dive
Markets focused on what is expected to be a third rise in U.S. interest rates since the financial crisis later on Wednesday, while there was also relief in commodity markets as oil pulled out of a six-day dive. The dollar slipped against the euro, the yen and the pound after a near 3 percent gain over the last five weeks, while U.S. bond yields hovered at just under 2.6 percent and gold rose for the first time in three days. "We are estimating three Fed rates hikes this year, we have seen some talk that they might be a bit behind the curve and four might be on the table but we don't think that is the case," Kully Samra, UK Managing Director at Charles Schwab, said. New economic projections from the Fed, including its 'dot plot' showing what policymakers expect to happen with rates, and a Janet Yellen press conference will all be key, he added. Oil was the other main market mover, pulling out of a six-day slide that had seen Brent cru...
