Asian shares rally, dollar sags on slow-motion Fed

Asian shares rally, dollar sags on slow-motion Fed

Thursday, September 22, 2016
Asian shares rally, dollar sags on slow-motion Fed Asian shares look set to rise for a sixth straight session on Thursday after the Federal Reserve left US rates unchanged and plotted a lower trajectory for future hikes, slugging the dollar and boosting commodity prices. 

Traders expected stocks to at least match the 1.1 percent gain enjoyed by the S&P 500. MSCI’s broadest index of Asia-Pacific shares outside Japan was seen testing its recent one-year peak.

While Tokyo was on holiday on Thursday, stocks were boosted on Wednesday by the Bank of Japan’s shift to targeting a positive yield curve, a move that was considered bullish for banks, insurers and pension funds.

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