TOKYO - Asian shares jumped on Thursday to a three-month high and the dollar fell broadly after the Federal Reserve cut interest rates as expected and U.S. Treasury yields declined.
U.S. Treasury yields slipped after the rate cut, but Fed Chairman Jerome Powell signalled additional trims are unlikely because there are several areas of strength in the U.S. economy. U.S. stock futures edged 0.01% lower on Thursday after the S&P 500 rose 0.33% to close at a record high on Wednesday for the second time in three trading sessions.
The dollar index against a basket of six major currencies fell 0.31% to 97.346, extending declines from Wednesday.
It looks like good for short term, but it's not good for long term.
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