Asian shares rose on Monday while the dollar sagged near its lowest in almost a month. The decline in the dollar comes after data shows the slowest job growth in U.S. in non-farm payrolls in a span of more than five years, lowering the chances of an expected near-term U.S. interest increase. U.S. non-farm payrolls recorded its lowest increase since 2010, with only an increase of 38, 000 last month, far from the expected 164, 000 by economists.
There was an increase of 0.4% of MSCI’s broadest index of Asia-Pacific shares outside Japan, while Japan’s Nikkei stock index dropped by 1.6%. This is after the dollar dropped 2% against the yen last Friday. On Wall Street, S&P 500 ended within just 1.5% of its record closing high on Friday. The dollar index moved up by 0.1% to 94.112 .DXY, but stayed not higher than Friday’s recorded low of 93.855, its lowest since May 2012.
A poll shows that all top banks on Wall Street are expecting the U.S. Federal Reserve during its June 14-15 policy meeting to let the interest rates remain unchanged.
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