Asian shares rally on US inflation relief
After the bonanza of recent central bank decisions, this week is much quieter with only the minutes of a few of those meetings due. There are no Federal Reserve speeches and U.S. data is of secondary importance.
Otherwise the themes were largely the same, with the dollar underpinned by a relatively strong economy and higher bond yields, which in turn is a burden for commodities and gold.
It is also a headache for emerging market countries, which are having to intervene to stop their currencies from falling too far and stoking domestic inflation.
For now, the afterglow from the U.S. inflation report was enough to lift MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3%.
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