With the Fed tipped to be close to the end of its tightening cycle, the dollar has retreated against its major peers and is sitting at a one-year low against the euro.BEIJING - Asian equities rose and the dollar dipped further Friday after fresh data showing continued slowing of inflation fanned hopes the Federal Reserve is nearing the end of its long-running campaign of interest rate hikes.
A higher-than-forecast reading on jobless claims added to the positive mood, which helped send Wall Street's three main indexes rallying, including a two percent advance for the Nasdaq. This week's data has reassured investors that inflation is coming down and that the economy could be heading for a soft landing, even though minutes from the Fed's March policy meeting revealed some officials see a mild recession by the year's end.
"And as we move into the seventh-inning stretch, where arguably much could happen between now and the final pitch, the combination of progress on inflation and the softer labour market has been encouraging.
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