Asia stocks at decade high; dollar firm before Fed meet

Sep 18, 2017, 6:25 AM EDT

Asian shares surged to decade highs on Monday while dollar remained steady ahead of the U.S. Federal Reserve meeting on Tuesday and Wednesday, where the central bank is expected to take steps towards unwinding its balance sheet.

ANZ analysts believe this week will be dominated by global liquidity as a number of central bank officials turn hawkish, boosting the chances of higher market rates in this brief phase, notes Reuters.

An atmosphere of political uncertainty, triggered by reports of the Japanese Prime Minister Shinzo Abe mulling snap elections as early as next month, also contributed to seismic shifts in markets, writes Business Line.