Conversely, overseas investors pulled back from Japanese bonds for a fourth consecutive week, selling long-term bonds worth a net 228.8 billion yen and short-term instruments totalling 876.9 billion yen, Ministry of Finance data showed.
A key point of pressure on the dollar was Powell stating that the Fed did not need to see inflation falling below its 2% target to begin cutting rates, only that the bank needed enough confidence that inflation was easing.
The yellow metal was sitting on some gains this week, buoyed by reports that several central banks in emerging markets were stocking up on the yellow metal. Dovish-leaning comments from Federal Reserve Chair Jerome Powell also furthered the yellow metal’s advance.
The world’s biggest cryptocurrency was nursing a 15% slump over the past month, and remained on the cusp of a bear market as fears of increased token supplies battered markets.
Asian stocks rose on Thursday as technology stocks rallied after positive revenue figures from chipmaking giant TSMC sparked more optimism over artificial intelligence, with Japanese stocks crossing new peaks.
