SINGAPORE - Asian stocks were perched at their highest in more than two months on Tuesday as expectations for more U.S. rate cuts kept risk sentiment aloft, while investors awaited a policy decision from Australia's central bank.
"A potential pivot may come only at the November 5 meeting depending on further labour market data and the Q3 CPI report." Overnight, the U.S. stocks closed modestly higher as traders digested the Fed's big move last week, with policymakers explaining the need for the 50 bp cut. The dollar index, which measures the U.S. currency against six rivals, was at 100.95, not far from the one-year low of 100.21 touched last week. The yen was little changed at 143.65 per dollar.
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