Most Gulf markets extend gains; Egypt flat

📆 7/16/2023 4:35 PM
📰 Reuters

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Most stock markets in the Gulf ended higher on Sunday, extending gains from the previous session when slowing U.S. inflation raised bets that the Federal Reserve will pause rate hikes after this month.

Most Gulf Cooperation Council countries, including Qatar, Saudi Arabia and the UAE, have their currencies pegged to the U.S. dollar and generally follow the Fed's policy moves, exposing the region to a direct impact from any U.

S. monetary policy move.

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