SYDNEY : Asian shares rose and the dollar was under pressure on Wednesday after slowing U.S. inflation solidified bets that the Federal Reserve would skip a hike later in the day, but uncertainty remained about further rate increases beyond this week.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 per cent in early regional trade, after surging 1.1 per cent in the prior session to the highest in two months. Both S&P 500 futures and Nasdaq futures were flat, after a strong rally overnight to their highest closing levels in 14 months thanks to the softer U.S. inflation data.
The benchmark 10-year yields also climbed to the highest in 2-1/2 weeks at 3.8450 per cent. They were last at 3.8075 per cent. Short-dated German yields jumped to a 3-month high overnight as investors looked to the rate decision from the European Central Bank on Thursday. It is expected to raise rates by another quarter-point and again in July before pausing for the rest of the year.
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