Asian Shares Rally on Waller's Dovish Comments, Yen Surges

Asian equities rallied on Wednesday, September 4, as investors awaited US jobs data and Federal Reserve comments. The US dollar dropped against major peers after dovish remarks from Federal Reserve Governor Christopher Waller reduced rate hike fears.

The yen surged 2.3% this week, its strongest gain since late July when Japan and the US conducted a rare joint intervention to halt a relentless slide in the Japanese currency. European stocks were poised for a higher open, with a pan-region index up 0.1%, while Nasdaq futures climbed 0.3% and S&P 500 futures rose 0.1%.

Fed Governor Waller said recent data suggested some signs of disinflation, and he would favor holding rates steady at this month's policy meeting if upcoming reports reinforced that trend. Futures scaled back the chance of a rate hike this month to just 50%, from about 63% a day ago.