Fed Relief Boosts Risk Appetite, Asian Currencies Strengthen Against Dollar

Asian markets are expected to open higher following Wall Street's surge as investors interpreted Federal Reserve Chair Jerome Powell's post-meeting press conference as dovish, pushing U.S. Treasury yields to a two-week low. The Asian economic calendar includes South Korean inflation and Australian trade data, as well as the Malaysian central bank's interest rate decision. Investors will also continue to analyze the fallout from the Bank of Japan's decision to remove its 1% ceiling for the 10-year bond yield. Chinese markets may face less bullish sentiment due to soaring short-term money rates and unexpected contraction in factory activity.