Asian shares got off to a subdued start on Friday, while the dollar held near tw...
SYDNEY - Asian shares got off to a subdued start on Friday, while the dollar held near two-year highs against the euro on speculation that data later in the day will show the U.S. economy outperforming the rest of the developed world.
Against a basket of currencies, the dollar was 0.8 percent firmer for the week so far at 98.128 having touched its highest since May 2017. The dollar was down at 111.51 yen, after shedding 0.5 percent overnight, but was buoyed elsewhere by solid data on U.S. capital goods orders. A string of solid numbers has led analysts to revise up their forecasts for growth and the latest median polled by Reuters is for an annualized 2.0 percent.
Just this week central banks in Sweden and Canada have backed off plans to tighten, while the Bank of Japan tried to dispel doubts about its accommodative stance by pledging to keep rates at super-low levels for at least one more year. The Federal Reserve holds a policy meeting next week and is expected to reaffirm its patient stance. A Reuters poll of analysts out Thursday found most believed the Fed was done with tightening altogether.Wall Street had ended Thursday mixed after a raft of earnings reports. The Dow fell 0.51 percent, while the S&P 500 lost 0.04 percent and the Nasdaq added 0.21 percent.
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