Asia shares up broadly, hope for benign US inflation

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The Star 3h ago

Asia shares up broadly, hope for benign US inflation - The Star

Quick Summary:

SYDNEY: Share markets were broadly firmer across Asia on Monday as a holiday in Japan removed one source of recent volatility, and investors looked ahead to major U.S.and Chinese economic data for an update on global growth prospects.

In currency markets, the dollar edged up 0.3% to 147.08 yen , and away from last week's deep low of 141.68, while the euro was steady at $1.0919.

"That would likely bolster the Fed's confidence that disinflation is ongoing, allowing for a rate cut in September, but a core run-rate still above target should also speak against a larger 50bp cut or an intra-meeting cut," said analysts at Barclays in a note.