Japanese stocks rose to a one-week high after exports increased the most since 2010, while Malaysia’s ringgit weakened before the outcome of a Federal Reserve meeting that may shed light on the future for U.S. monetary stimulus.
The dollar held a two-day gain versus the yen amid speculation Federal Reserve Chairman Ben S. Bernanke will today provide more information about when U.S. policy makers will start to reduce bond purchases.
The rupee swung between gains and losses, trading 0.2 percent off an all-time low, as concern U.S. policy makers will pare stimulus countered optimism India’s government will allow more overseas investments.
Japanese shares advanced, with the Topix index headed for its first four-day winning streak in a month, amid low volume before the Federal Reserve meeting outcome. Stocks rose as data showed Japan’s exports increased the most in three years.
Wall Street banks, buoyed by record stock-market prices and high-yield bond issuance, probably will report a jump in second-quarter trading and investment-banking revenue from the same period a year ago.
Bank of Canada Governor Stephen Poloz will probably use his first public speech since taking office today to stress that rebuilding business investment is a key challenge, suggesting he won’t tighten monetary policy soon.