Asian equities buoyed by dovish chatter from Fed officials about a rate cut
Despite some pullback in the dollar and Fed expectations since overnight trading, equities are still in a more buoyant mood and are also helped by the fact that Microsoft earnings beat expectations handily with the forecast also looking more upbeat.
That is leading to gains seen among Japanese stocks with tech leading the charge. The Hang Seng and Shanghai Composite are also trading higher by 1.1% and 0.7% respectively and the positive vibes should feed through into European trading.
USD/JPY holds firmer at 107.65 at session highs on the more upbeat tones here and in Treasury yields, with 10-year yields up by 2.2 bps to 2.047% currently.