Asia stocks set for best week of 2023, dollar reels on dovish Fed bets

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Asian stocks rose on Friday, on course for their best week this year, as a cooling in U.S. inflation stoked speculation that the Federal Reserve could pause rate hikes after this month.

, though, was a notable outlier, flipping early gains to be last down 0.43% as it struggles to find its feet following its retreat from a 33-year peak reached at the start of this month., after the index rallied 0.85% overnight.

U.S. two-year Treasury yields , which tend to be most sensitive to the Fed policy outlook, languished at 4.63%, following a 30 basis point slide this week that extended its drop from last week's 16-year peak above 5%. Speculation that the BOJ could widen its 10-year yield band this month has been rising since a labor report a week ago showed solid growth in wages.

 

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