Asia stocks hit 27-month top, dollar slips on rate cut talk

SYDNEY - Asia stocks hit 27-month highs on Thursday as softer U.S. data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.

"The Labour party has relatively modest tax and spending plans, with the overall goal of shrinking the UK's large budget deficit," CBA analysts said.Across the English Channel, polls suggested the National Rally would not win a majority of seats in Sunday's French election as mainstream parties moved to block the far right.The U.S.

"Given the more encouraging personal consumption expenditure data in May, the risk of a reacceleration in inflation seems even less likely, particularly with GDP growth now running well below its potential," he added."We still think that the Fed will begin to cut interest rates this September."

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Stock market today: Asia shares rise amid Bank of Japan focus after the Fed stands patAsian shares are mostly higher as investors turn their attention to what the Bank of Japan might decide on monetary policy later this week. Shares fell slightly Thursday in Tokyo and Shanghai, but rose in the rest of Asia. U.S.
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