U.S. Dollar Stays Strong after Solid Data

The U.S. dollar stayed strong and U.S. bond yields held firm on Thursday after data showed solid U.S. economic growth, even as the Federal Reserve repeated its message that it is in no hurry to raise interest rates.

While the prospect of a solid U.S. recovery underpinned equities, many Asian shares slipped on profit-taking after making hefty gains since the middle of this month.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.3 percent but held still not far from 6 1/2-year high hit on Wednesday. The Nikkei average rose 0.3 percent while Australian shares inched up to hit six-year highs.  European shares are expected to open slightly firmer, with France’s CAC40 seen rising up to 0.3 percent and Britain’s FTSE 0.1 percent.

Reuters