Investors are keenly awaiting the release of crucial US jobs data due later in the day. Photo: SCOTT OLSON / GETTY IMAGES NORTH AMERICA/Getty Images via AFP
His remarks were echoed by Cleveland Fed chief Loretta Mester, who was also keen to make sure the bank continued to rein in prices. Focus is now on the US non-farm payrolls figures due later in the day, which analysts said will have a big bearing on markets. "Bad news will be good news in this regard, with rising confidence in lower rates currently in the global markets driving seat."The yen extended its gains to hit a one-month high of 147.53 to the dollar as the shift to lower US rates comes as bets increase on the Bank of Japan finally moving away from its long-running ultra-loose monetary policy.