Asian shares jump, dollar hits low grounds on dovish Fed stance

Asian shares jump, dollar hits low grounds on dovish Fed stance

Asian share markets were seen upbeat on Wednesday, while the dollar hovered near its lowest level this year. This came after the Federal Reserve decided to keep its accommodative policy rates, easing some inflation-related pressures that made investors cautious for days.

MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.28% increase. Japan’s benchmark index Nikkei and Australia’s index both tallied a 0.27% jump. South Korean shares hiked 0.16%, while Chinese blue chips traded 0.13% higher.

In currency markets, the dollar index stood at 89.696 after hitting its lowest level since January on Tuesday. Investors’ withdrawal from the greenback followed after the Federal Reserve said that it could minimize inflation without compromising the United States’ economic recovery.  

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