Asian shares climb ahead of US jobs data, Fed's Waller soothes bonds
SYDNEY: Asian shares rose on Friday as investors embraced a global rally before crucial U.S. jobs data, while bonds found some much needed relief after a top Federal Reserve official cooled rate hike fears and dragged the dollar lower. The dollar’s retreat turbocharged a rally in the yen, which has gained 2.6% this week to trade at 155.7 a dollar, putting it within striking distance of the 155.2 level reached after joint intervention by Tokyo and Washington in late July. In remarks for a Reuters NEXT Newsmaker event, Federal Reserve Governor Christopher Waller said that recent data suggested some signs of disinflation and that, if upcoming reports reinforced that trend, he would favour holding rates steady at this month’s policy meeting. Futures were quick to scale back the chance of a rate hike this month to just 50%, from about 63% a day ago. Those expectations had surged in recent sessions as a global bond rout drove long-dated yields to multi-year highs, fuelled by concerns over stubborn inflation, swelling government debt and geopolitical tensions. “Waller is pushing back against the thrust of the argument made by Warsh last week that there is little evidence that underl
