The US Dollar came under broad-based selling pressure in overnight trade, losing as much as 0.5 percent on average against its major counterparts as stocks rebounded across Asian bourses following last week’s selloff – the largest in six weeks – sapping demand for the safety-linked US unit.
The MSCI Asia Pacific regional benchmark equity index added 0.5 percent, with optimism chalked up to last week’s better-than-expected US jobs report. The figures showed the world’s top consumer market (and key demand source for Asian exporters) added 244K jobs in April, topping forecasts calling for an 185K increase.
Private-sector employment grew 268K, the most in over five years.