Asian Shares Rally Amid Dovish Fed Comments, Dollar Falls
Asian shares tracked Wall Street higher ahead of the U.S. jobs data, while bonds found some relief after Federal Reserve Governor Christopher Waller cooled rate-hike fears and dragged the dollar lower.
The dollar's retreat turbocharged a rally in the yen, which is set for a weekly rise of 2.3%, its best since late July when Japan and the U.S. conducted a rare joint intervention to halt a relentless slide in the Japanese currency.
Federal Reserve Governor Christopher Waller said recent data suggested some signs of disinflation and that if upcoming reports reinforced this trend, he would favor holding rates steady at this month's policy meeting.
This sent futures scaling back the chance of a rate hike this month to just 50%, from about 63% a day ago.