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This caused a brief rally in the US dollar although it ended the session largely unchanged. Nonetheless, the removal of uncertainty now that the Fed meeting has passed is likely to be taken as a positive for Asian markets today.
The other major positive for equity markets was the further decline in oil production in the Energy Information Administration’s (EIA) weekly report, which helped WTI oil gain 3% and close above US$45. US crude oil production fell to 8.94 million barrels per day, and is now down about 650,000 barrels per day from its peak.