Asia stocks swing to 3-week high, dollar struggles

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Reuters UK

By Wayne Cole SYDNEY (Reuters) – Asian stocks tracked Wall Street higher on Monday while the dollar was pinned near five-week lows as investors wagered on an eventual slowdown in U.S. monetary tightening, albeit after sharp hikes in June and July. Helping to mellow the mood was news that Shanghai authorities will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide lockdown that began two months ago. The Memorial Day holiday in the United States made only a limited impression on month-end demand and MSCI’s broadest index of Asia-Pacific shares outside Japan c…

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