Asian shares inched higher while the dollar was pinned to one-year lows on sterling and the euro on Thursday as Federal Reserve minutes showed policymakers...
SINGAPORE - Asian shares inched higher while the dollar was pinned to one-year lows on sterling and the euro on Thursday as Federal Reserve minutes showed policymakers were ready to start cutting U.S. interest rates.
The euro stood at $1.1151 and traded as high as $1.1173 overnight, its highest since the middle of last year, above chart resistance at $1.1139 and with the way open to the 2022 high around $1.1276. Sterling bought $1.3096 and hit a more than one-year high of $1.3119 overnight. Checks on the dollar's weakness may come from U.S. jobs data on Sept. 6 or even purchasing managers index data due later today if it confounds market bets on interest rate cuts, or shows softness in Europe that weighs on the euro, he said.
Treasuries rallied overnight on the Fed minutes and a large - although expected - downward preliminary revision to U.S. hiring numbers over the past year.Ten-year yields were broadly steady at 3.81% on Thursday in Asia and two-year yields held at 3.94%.Brent crude futures have slid nearly 6% through August so far at $76.04 a barrel and are close to testing the year's lows as swelling U.S. crude stocks and a weakening demand outlook in China have raised pessimism.
South Korea's central bank left interest rates on hold, as expected, but it's laying the groundwork for cuts as it downgraded forecasts for growth and inflation.Asian shares inched higher while the dollar was pinned to one-year lows on sterling and the euro on Thursday as Federal Reserve minutes showed policymakers were ready to start cutting U.S. interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2% in early trade and Japan's Nikkei rose 1%.
Latest updates from the United Center in Chicago as Kamala Harris and Tim Walz prepare to accept party’s nominations in race for the White HouseBrazil will tighten up rules to enter the country without a visa starting next week, the government said on Wednesday, after migrants have been increasingly using the South American nation as a stop-over on the way to the United States and Canada.
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