Asia stocks mixed as soaring dollar pauses

Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesSINGAPORE - Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.

Wall Street indexes fell overnight and S&P 500 futures were flat in early Asia trade. The dollar dipped slightly overnight and news of an unusual trilateral agreement between the U.S., Japan and Korea to consult closely on foreign exchange left the door open to intervention to slow dollar gains in Asia.

The euro is under pressure as European policymakers are readying to cut rates in two months time, though at $1.0665 it is off this week's five-month lows. "China is likely to welcome an end to yen depreciation," said Bank of Singapore strategist Moh Siong Sim in a note to clients.

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