The pullback in the US dollar was relatively limited after FOMC left interest rate unchanged and sounded more dovish than expected. While the greenback tumbled broadly through the 95 handle, it staged a solid recovery back above the level on Monday.
Yesterday Woodside (WPL) offered an all-share buyout for Oil Search (OSH) at a 13% premium to its Monday closing price. This deal is unlikely to be successful at this price, but has opened the door for Woodside to increase its offer or for other entrants to make an offer.
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