Japan leads Asia stock rally, dollar firms after blowout US payrolls

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TOKYO: Asian stocks rallied and the dollar reached a fresh seven-week peak on the yen on Monday after blowout U.S.labour market data dispelled fears of a recession and spurred a sharp paring of rate-cut bets.

"There's also seemingly a revival of the U.S.economic exceptionalism trade".The U.S.dollar pushed as high as 149.10 yen for the first time since Aug.16 before last trading hands at 148.49 yen.

Brent crude futures fell 35 cents to $77.70 per barrel, after reaching $79.30 on Friday, the highest since Aug.30.U.S.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaHong KongIsraelJapanSouth KoreaLebanon

Topics: Markets /Business/Business News Yen Nikkei MSCI Asian Hang Seng

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-07 @ 14:16:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 641 words

Reading Time: 4 minutes read

Sentences: 27 lines

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Copyright Owner: © The Star

News ID: 22918315

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