SYDNEY : Asian shares tracked the bounce on Wall Street on Tuesday, as investors remained sanguine that key U.S. economic data due later would show an easing in inflation, while the yen recouped losses ahead of the nomination of a new central bank governor. Japan's currency had weakened on uncertainty su
SYDNEY : Asian shares tracked the bounce on Wall Street on Tuesday, as investors remained sanguine that key U.S. economic data due later would show an easing in inflation, while the yen recouped losses ahead of the nomination of a new central bank governor.
Later Tuesday, the U.S. Bureau of Labor Statistics will release January's Consumer Price Index data, which is expected to show how effective Federal Reserve policy tightening has been in taming inflation. "The bottom line for us is two-fold. First, inflation is coming down, but it will not be a smooth decline. A return to target for inflation was never very likely this year, so patience is required regardless," said Seth Carpenter, chief global economist at Morgan Stanley.
The two-year bond yields also eased from their three-month highs to hover at 4.5090 per cent, compared with the previous close of 4.5340 per cent. On Tuesday, the Japanese government is expected to name academic Kazuo Ueda as its pick to become next central bank governor.
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