On Thursday morning, there was a positive start for Asian stocks as authorities expressed their opposition to a stronger dollar. The yen and won both strengthened against the greenback after a statement from US Treasury Secretary Janet Yellen, who expressed “serious concerns” about the depreciation of their currencies. Masato Kanda, Japan’s top currency official, reiterated the finance ministers of G-7 nations’ current currency commitments. Meanwhile, there are ongoing debates about interest rate cuts and UBS’s plans to make more job cuts.
Asian Stocks Rebound on Weakened Dollar and Interest Rate Concerns: G-7 Officials and UBS Announce New Plans
