Stocks Set for Cautious Open; Yen Advances on Ueda: Markets Wrap

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(Bloomberg) -- Asian equities may struggle to find traction Monday in a cautious open to trading around the region, while in currency markets the yen was on the front foot following potentially hawkish remarks for the Bank of Japan governor.Most Read from BloombergTrudeau Is Stuck in India With Faulty Aircraft After Hearing Criticism From ModiIndia’s G-20 Win Shows US Learning How to Counter China RiseMeloni Tells China That Italy Plans to Exit Belt and RoadBoss of Failed Crypto Exchange Gets 11

Futures for Australia were fractionally higher, a gauge of US-listed Chinese stocks fell and contracts for Japan showed a small gain in trading that ended before an interview by BOJ’s Kazuo Ueda reached the market. Hong Kong reopens after a closure Friday due to a heavy rainstorm.

The dollar edged lower against other Group-of-10 counterparts after its recent rally drove the currency to a record streak of weekly gains. The greenback has been bolstered recently by bets the Federal Reserve will keep interest rates higher for longer as the US defies a global economic gloom. Fed Bank of New York President John Williams said late Thursday US monetary policy is “in a good place,” but officials will need to parse through data to decide on how to proceed on interest rates. His Dallas counterpart Lorie Logan noted that skipping an interest-rate hike at the central bank’s upcoming policy meeting may be appropriate, while also signaling rates may have to rise further to get inflation back to 2%.

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