Asian shares climbed to a three-week high on Thursday on comments by Federal Reserve Chairman Ben Bernanke that highly accommodative monetary policy would be needed for the foreseeable future, and the dollar stabilized.
Financial markets have recently sold off on concerns that the Fed may begin to scale back its $85 billion a month bond-buying program as soon as September.
But Bernanke's remarks, which played down the strength of last week's June payrolls report, prompted investors to reassess the risk of an early end to the Fed's program. They cut long dollar positions and sent U.S. Treasuries prices higher.
Source: Xinhua
