FILE PHOTO: Passersby walk past an electric monitor displaying the Japanese yen exchange rate against the U.S. dollar outside a brokerage in TokyoSINGAPORE - Asian equities eased on Tuesday, while the yen remained close to a two-week high as traders braced for the Bank of Japan's policy decision when it is likely to lift its inflation forecasts and ponder tweaks to its bond yield control.
The dollar index, which measures U.S. currency against six rivals, rose 0.104%. Sterling was last trading at $1.2151, down 0.14% on the day, while the euro was down 0.09% to $1.0603.Stocks in Asia were slightly weaker, with MSCI's broadest index of Asia-Pacific shares outside Japan 0.24% lower, while Japan's Nikkei was 0.23% lower.Overnight, all three major U.S. stock indexes closed up more than 1%, with interest rate sensitive megacap stocks providing the most upside muscle.
"It is evident that the U.S. economy is operating at full throttle, marked by remarkably low unemployment levels. However, this level of growth also exacerbates the spectre of inflation," said Gary Dugan, CIO at Dalma Capital. Bill Gates' former assistant is the world's 5th-richest person — and he's close to overtaking the Microsoft cofounder
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