Asian stocks were mostly higher early Thursday following a positive lead from Wall Street. However, trading is likely to be subdued as investors remain on the sidelines before Chinese economic data and a gathering of central bankers in Jackson Hole.
U.S. stocks ended mostly higher on Wednesday, with the S&P 500 within reach of a record high after minutes from the Federal Reserve's last policy meeting showed that some Fed officials want a "relatively prompt" rate hike based on the economy's progress.
"What has accelerated more than anything is the debate. With Yellen in particular, and the Fed in general, the general bias is leaving in place stimulus for as long as they can," said Bruce McCain, chief investment strategist at Key Private Bank.
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GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
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