Asian shares climbed to a three-week
high on Thursday on comments by Federal Reserve Chairman Ben Bernanke that
highly accommodative monetary policy would be needed for the foreseeable
future, and the dollar stabilized.
Bernanke’s remarks, which played
down the strength of last week’s June payrolls report, prompted investors to
reassess the risk of an early end to the Fed’s program. They cut long dollar
positions and sent US Treasuries prices higher.
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