Euro up 0.2 per cent to $US1.1011 ($A1.5440). Yen strengthens 0.22 per cent to 128.65 per dollar, while sterling was last trading at $US1.2372 ($A1.7349).
Asian shares jump, dollar eases after Powell comments
Asian stocks jumped on Thursday while the dollar eased after Federal Reserve Chairman Jerome Powell said a “disinflationary” process was under way, boosting risk appetite and hope that the US central bank will soon end its monetary tightening streak.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.84 per cent higher, while Japan’s Nikkei rose 0.37 per cent. Australia’s S&P/ASX 200 index added 0.37 per cent.
Chinese stocks were 0.11 per cent higher, while Hong Kong’s Hang Seng Index was up nearly 1.0 per cent.
The US central bank announced an expected 25 basis points interest rate increase after a year of larger hikes and said it had turned a key corner in the fight against a high inflation rate. But policymakers projected “ongoing increases” in borrowing costs would still be needed.